Items bought by businesses to help produce other goods and services are called
A) capital goods.
B) exports of goods and services.
C) government goods and services.
D) productive goods.
E) consumption goods and services.
A
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Which of the following is a positive statement?
a. Driving speeds should be lowered so that fewer accidents will occur. b. When per capita income falls, fewer meals are consumed at restaurants. c. The minimum wage is too low; college students deserve a raise. d. Cigarette sales should be made illegal in order to reduce the incidence of cancer. e. Social Security is a good program for U.S. workers.
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.