When economists use the term "factors of production," they mean
a. labor, capital, and money
b. labor, capital, land and money
c. labor, capital, land and entrepreneurship
d. labor, land, money and entrepreneurship
e. money and entrepreneurship
C
Economics
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The adoption of inflation targeting in the United States ________
A) brought an end to the "dual mandate" regime B) resulted from legislation enacted in 1914 C) occurred after its adoption in more than a dozen other countries D) was blocked by its staunch opponent, Ben Bernanke
Economics
A profit-maximizing strategy becomes a loss minimization strategy when a firm in a perfectly competitive industry is producing where
A. P = ATC. B. MR = MC < P. C. AVC < P < ATC. D. P > ATC.
Economics