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17 Sep 2018

a. Suppose that businesses buy a total of $180 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $92 billion in wages, $26 billion in rent, and $36 billion in interest, how much are households paid for providing entrepreneurial ability? $ billion for entrepreneurial ability

b. If households spend $95 billion on goods and $85 billion on services, how much in revenues do businesses receive in the product market?

$ billion

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Beverley SmithLv2

20 Sep 2018

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Related questions

1. Which of the following groups of countries are all advanced economies?

		Hong Kong, Japan, France, and the United Kingdom
		Italy, the United States, China, and Russia
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1. The most people live in ________ economies and the fewest people live in ________ economies.

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QUESTION 3

1. Households and firms in the U.S. economy interact with those in the rest of the world in the ________ market and the ________ market.

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		financial; factor

QUESTION 4

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QUESTION 5

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		Donald Trump purchases furniture for his office.
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1. In the United States, the poorest 20 percent of households receive roughly ________ percent of total income.

		10
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		Jake buys an iPhone.
		The local driver's license office purchases a new digital camera and printer.
		Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
		Rhianna gets a haircut.

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1. The total value of capital in the United States is around

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		$10 trillion.
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1. An export good is a good produced

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1. ________ paid for the use of land; ________ paid for the services of labor; and ________ paid for the use of capital.

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B.When there is a market surplus.

C.When there is scarcity.

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E.When there is a market shortage

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C.c and d only

D.b and c only

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B.Firms determine what goods and services are produced and how to produce? them, and markets determine who will receive them.

C.Consumers determine what goods and services are? produced, firms determine how to produce? them, and equity determines who will receive them.

D.Consumers determine what goods and services are? produced, firms determine how to produce? them, and markets determine who will receive them.

E.Firms determine what goods and services are? produced,technology determines how to produce? them, and consumers determine who will receive them.

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D.The buyer must possess market power.??

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D.Information about the additional revenue earned and the additional cost incurred from producing 300,000 additional computers is required to answer this question.

E. Information about the total revenue earned and the total cost incurred from producing 3,300,000 computers is required to answer this question.

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D. Since the cost of producing the play does not change with the seating? configuration, this is evidence of price discrimination based on market segmentation.