Multiple Choice
Which of the following correctly identifies the difference between the demand for factors of production and the demand for final goods?
A) The demand for factors of production is fixed over time, whereas the demand for final goods changes with changes in tastes and preferences.
B) The demand for final goods is fixed over time, whereas the demand for factors of production changes with changes in tastes and preferences.
C) The demand for final goods is derived from the demand for labor, whereas the demand for factors of production is independent of the demand for final goods.
D) The demand for factors of production is derived from the demand for final goods, whereas the demand for final goods is independent of the demand for factors of production.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: In an economy, if the money supply
Q10: An economy produces only cell phones. In
Q11: An economy produces only cell phones. In
Q12: The Federal Reserve is relatively independent. Which
Q13: The labor market in Delaware is depicted
Q15: Suppose a firm sells its product in
Q16: Suppose a firm uses land, labor, and
Q17: Meryl works 10 hours a day in
Q18: Bookland is a country that produces only
Q19: Victoria Corp. makes running shoes by employing