1) Which of the following is NOT true about the factor distribution of income? I
ID: 1204697 • Letter: 1
Question
1) Which of the following is NOT true about the factor distribution of income? It is the division of total income among labor, land, and capital. The returns to human capital are easily measured. Labor receives the bulk of the income in the modern U.S. economy. A part of the proprietor's income should be considered wages that the business owners pay themselves. 2) Which of the following is NOT a factor of production at a college? electricity the faculty the computer labs classroom buildings 3) A firm has hired the profit-maximizing number of workers when the wage is: equal to the average product of the last worker hired. greater than the average product of the last worker hired. equal to the value of the marginal product of labor of the last worker hired. less than the price of the product. 4) The importance of human capital has been increased by technological progress. False True 1) Which of the following is NOT true about the factor distribution of income? It is the division of total income among labor, land, and capital. The returns to human capital are easily measured. Labor receives the bulk of the income in the modern U.S. economy. A part of the proprietor's income should be considered wages that the business owners pay themselves.Explanation / Answer
1) Which of the following is not true about the factor distribution of income?
* The returns to human capital are easily measured.
2) Which of the following in not a factor of production at a college?
* Electicity.
3) A firm has fired the profit-maximizing number of workers when the wage is:
* Equal to the value of the marginal product of labor of the last worker hired.
4) The importance of human capital has been increased by technological progress.
* True.
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