One characteristic that has allowed the U.S. economy to change the mix of output in response to consumer demand is the
A. Factor mobility which is the increased ease with which resources move from one industry to another.
B. Labor-intensive production process.
C. Abundance of scarce resources.
D. Large number of proprietorships.
Answer: A
Economics
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In an economy with no income taxes or imports, the marginal propensity to consume is 0.80. The expenditure multiplier is
A) 1.25. B) 10.0. C) 0.80. D) 5.00. E) 0.20.
Economics
Unlike the steel industry, the automobile industry
(a) became more concentrated. (b) became less concentrated. (c) remained the same in terms of concentration. (d) constantly fluctuated in terms of concentration.
Economics