Which factor of production is paid "profit"?
A) entrepreneurship
B) human capital
C) labor
D) land
E) capital
A
Economics
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The "most favored nation principle" means:
a. that member countries can enter into exclusive favorable agreements with some countries. b. that member countries are barred from forming agreements outside their geographic vicinity. c. that member countries must apply the same low tariffs to all WTO member countries. d. that member countries must apply differential tariffs on imports from non-WTO countries.
Economics
Economic decline (negative growth) is represented on a production possibilities frontier model by the production possibility frontier
A) shifting inward. B) becoming flatter. C) shifting outward. D) becoming steeper.
Economics