Factors of production are grouped into four categories
A) land, labor, capital, entrepreneurship
B) land, labor, capital, money
C) land, capital, money, entrepreneurship
D) labor, capital, money, entrepreneurship
Question 2
When a nation imports a good, its consumer surplus ________, and its producer surplus ________.
A) increases; increases
B) decreases; decreases
C) increases; decreases
D) decreases; increases
E) does not change; increases