Which of the following is an example of labor as a factor of production?
A.) People who bring together the skills necessary for creating products and services.
B.) The skills and abilities of workers.
C.) People who are paid an hourly wage but not those paid a salary.
D.) A college or university that educates people.
B.) The skills and abilities of workers.
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An emissions standard will work best in which of the following cases?
a. The marginal cost of pollution reduction curve is relatively flat b. The marginal cost of pollution reduction curve is relatively steep c. All firms have similar equipment and technology d. The health effects of a pollutant are relatively unknown e. Firms have very different equipment and technology
The value of the real estate that a bank uses for its operations will be included in the bank's:
A) cash equivalents. B) reserves. C) short-term borrowing. D) long-term investments.