Exam 2: The Usand Global Economies

If a product becomes more popular and consumers want more produced,which of the following best describes what happens to move more factors of production into that industry?

Which factor of production does human capital enhance? i.land ii.labor iii.capital

Which of following groups of countries are all advanced economies?

In the circular flow model,there are two types of markets: the ________ market and the ________ market.

As a factor of production,oil reserves are counted as

What would be an example of capital good?

Which of the following is true? i.The advanced economies account for more than half of global production. ii.Almost four out of every five people in the world live in the developing economies. iii.In the advanced economies,agriculture accounts for a larger part of total production than in the developing economies.

Property taxes are a major source of revenue for

Which of the following is not considered one of the factors of production?

In the circular flow model,

What is the largest source of tax revenue for the U.S.federal government and what is the largest expenditure item of the U.S.federal government?

The figure above shows governments in the circular flow. -In the figure above,governments

Jan is attending college and studying to be an investment broker.To improve her chances of employment following college,she has interned at a top brokerage firm during the last two summers.Jan's internship has increased her

In the United States,the richest 20 percent of households receive about ________ percent of total income.

An export good is a good produced

Most of the world's population lives in

Terri is enrolled in her first economics course.She is required to give a presentation about the circular flow.Which of the following statements should she include in her presentation?

Goods produced in the United States and sold in other countries are called

Human capital can be increased through

Which of the following is an example of an effort to decrease physical capital differences between an advanced and a developing economy?