Manufactured resources such as equipment, buildings, and tools are also known as

Question

Manufactured resources such as equipment, buildings, and tools are also known as: physical capital, natural resources. If a firm is currently operating at a point at which the wage rate is above the value of the marginal product of labor, it is currently maximizing profit. During the Industrial Revolution, the factor distribution of income shifted away from landowners to owners of capital, was unchanged. Which of the following is not a factor of production? Which of the following is an efficiency argument against the welfare state? Programs designed to provide protection against unpredictable financial distress are known as: poverty programs, government transfers. Factor demand called derived demand because it: requires the use of other factors. A firm decides how many workers to hire based on the: goal of maximizing the value of the marginal product of labor, idea of profit Maximization. For the United States in 2009, a Gini coefficient of 0.46 suggests that: the United States has almost achieved income equality, the average household income is $49,445. Werner wants to pay efficiency wages to ensure a high quality of construction for his new beach home. If the prevailing wage rate for electricians is $22 per hour in his area, he would have to pay which of the following amounts to satisfy an efficiency wage concept? Manufactured resources used to produce goods or provide services are known as 0 physical capital.

Explanation / Answer

45. A

46. C

47. A

48. B

49. B

50. C

51. C

52. B

53. D

54. A

55. A

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