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Author Question: Economic rent is defined as A) the price of a factor of production that is fixed in supply. B) ... (Read 96 times)

sc00by25

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on: Jun 29, 2018
Economic rent is defined as
 
  A) the price of a factor of production that is fixed in supply.
  B) the surplus received by employing a factor of production in its highest-valued use.
  C) the revenue received by a factor of production with an upward-sloping supply curve.
  D) what you pay to rent your apartment or house.

Question 2

The United States has a trade ________ with all its major trading partners and a trade ________ with every region of the world except for Latin America.
 
  A) deficit; deficit
  B) deficit; surplus
  C) deficit; balance
  D) surplus; deficit
  E) surplus; surplus
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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juliaf

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


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