Question 13 multiple choice 0 points modify remove

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Question 13 Multiple Choice 0 points Modify Remove Question At any particular point in time, the output of the economy: Answer is fixed because the supplies of capital and labor and the technology are fixed. is fixed because the demand for goods and services is fixed. varies because the supplies of capital and labor vary. varies because the technology for turning capital and labor into goods and services varies. Page 2 of 27
Add Question Here Question 14 Multiple Choice 0 points Modify Remove Question The neoclassical theory of distribution:
Add Question Here Question 15 Multiple Choice 0 points Modify Remove Question The price received by each factor of production for its services is determined by:
Add Question Here Question 16 Multiple Choice 0 points Modify Remove Question When factor supply is fixed and quantity of the factor is graphed on the horizontal axis while factor price is graphed on the vertical axis,
the factor:
Add Question Here Question 17 Multiple Choice 0 points Modify Remove Question A competitive firm: Answer is small relative to the market in which it trades. has to charge a lower price when it wants to sell more goods. has several large competitors with whom it engages in fierce competition. can set the wage at which it hires workers.
Add Question Here Question 18 Multiple Choice 0 points Modify Remove Question A firm's economic profit is:
Add Question Here Question 19 Multiple Choice 0 points Modify Remove Question A competitive firm chooses the:
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