Which factor of production includes water?

Which factor of production includes water?

A) physical capital
B) human capital
C) land
D) entrepreneurship

Ques. 2

All of the following are aspects of microeconomics EXCEPT

A) monopolies.
B) a firm maximizing profit.
C) a worker choosing one job over another.
D) the average level of prices of all goods and services produced in a country in a year.

Ques. 3

If we are comparing the price of regular gasoline with the price of super gasoline, then an increase in the relative price of regular gasoline implies that

A) the nominal price of regular gasoline increased.
B) the nominal price of super gasoline decreased.
C) the relative price of super gasoline decreased.
D) the relative price of regular gasoline increased.

Ques. 4

Education and training of workers would best be categorized as

A) land.
B) labor.
C) physical capital.
D) human capital.

Ques. 5

Assume that the initial demand and supply curves in the above figure are DA and SA, respectively. The initial equilibrium price and quantity are

A) P1 and E.
B) P3 and F.
C) P1 and G.
D) P2 and F.

Ques. 6

The price of a gallon of gasoline increased from 2.00 to 2.25 while the price of a ride on the city bus increased from 50 cents to 75 cents. The relative price of riding the city bus

A) increased from 0.25 to 0.6.
B) decreased from 4.0 to 3.0.
C) stayed constant at 0.25.
D) stayed constant at 4.0.

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Which factor of production includes water?

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