One characteristic that has allowed the U.S.economy to change the mix of output in response to consumer demand is the
A) Ease with which resources move from one industry to another.
B) Abundance of scarce resources.
C) Large number of proprietorships.
D) Labor-intensive production process.
Correct Answer:
Verified
Q53: A U.S.firm that outsources jobs would be
A)Building
Q58: When the government provides a legal framework,
A)Private
Q59: A capital-intensive production process is one that
A)Has
Q61: How will an increase in the level
Q63: Productivity
A)Rises when the value of output rises
Q64: Which of the following definitely means productivity
Q65: Human capital is defined as the
A)Amount of
Q66: Productivity is a measure of
A)Output per unit
Q67: When economists describe a production process as
Q80: The government regulates monopolies in order to
A)Ensure
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