Which of the following statements is FALSE?
A) Land is a factor of production only in agricultural endeavors.
B) Investments in human capital make workers more productive.
C) Manufactured goods used in providing services are considered capital.
D) Individuals who innovate new production methods and management techniques are engaged in entrepreneurship.
Correct Answer:
Verified
Q55: When the rate of economic growth dips
Q56: Which one of the following is TRUE?
A)
Q57: Which one of the following is FALSE?
A)
Q58: GDP does NOT include
A) the value of
Q59: GDP is expressed in
A) physical units.
B) monetary
Q61: A free market system allocates scarce goods
A)
Q62: How do consumers typically react to a
Q63: Changes in the average standard of living
Q64: An increase in real per capita GDP
Q65: How could GDP increase without there also
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