Suppose that an economy produces 2400 units of output, employing the 60 units of input, and the price of the input is $30 per unit.
Refer to the information above. The level of productivity in this economy is:
A. 20
B. 30
C. 40
D. 50
C. 40
Economics
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Which of the following is an example of a physical capital in agricultural production?
A) A common canal B) A farmer C) A road D) A tractor
Economics
The United States has developed a comparative advantage in digital computers, airliners, and many prescription drugs. The source of its comparative advantage in these products is
A) a favorable climate. B) technology. C) abundant supplies of natural resources. D) a strong central government.
Economics