Economists refer to the pattern of income that people derive from different factors of production as the:
A. factor stream of income.
B. factor distribution of income.
C. expected future factor value.
D. factor price.
Answer: B
Economics
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Refer to Figure 15-12. If the firm maximizes its profits, the deadweight loss to society due to this monopoly is equal to the area
A) EFG. B) ACE. C) ABEG. D) ABF.
Economics
Which of the following could cause the demand curve for tickets to Disney World to shift to the right?
a. A hurricane is predicted to hit Orlando next week. b. A new app can predict wait times on rides and reduce wait by 90%. c. Consumer incomes decreased during the last quarter due to new tax increases. d. Universal Studios lowered the price of their one day passes to Harry Potter Land.
Economics