Author Question: Which of the following are considered factors of production used to produce goods and services? ... (Read 44 times)

Bob-Dole · **on:** Jun 29, 2018

Which of the following are considered factors of production used to produce goods and services?

I. Land
II. Labor
III. Capital
IV. Entrepreneurship
A) I and II only
B) I and III only
C) I, II and III only
D) I, II, III and IV

Question 2

In the above figure, the short-run aggregate supply curve is SAS1. If the money wage rate increases, there is

A) an upward movement along SAS1.
B) a downward movement along SAS1.
C) a shift to SAS0.
D) a shift to SAS2.