Two components of labor are:
A) residential location and education.
B) natural ability and human capital.
C) money and financial wealth.
D) ingenuity and job-specific machinery.
Ans: B) natural ability and human capital.
Economics
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Bob's Books is the only bookstore in town. The figure above shows the demand curve for books and Bob's Books' marginal revenue curve and marginal cost curve
Bob's Books maximizes its profit and sets the price of a book equal to ________ and has total annual revenue of ________. A) $40; $40,000 B) $30; $60,000 C) $20, $60,000 D) $10; $40,000
Economics
Government transfer payments include which of the following?
A) grants to state and local governments B) interest on the national debt C) Social Security and Medicare programs D) national defense
Economics