When an Increase in the Use of One Factor of Production

question 73

True/False

When an increase in the use of one factor of production decreases the demand for the other, the two factors are complementary factors of production.

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Definitions:

Stamp Act

A 1765 law passed by the British Parliament requiring all legal documents, newspapers, and other papers in the American colonies to bear a tax stamp, leading to widespread protest.

Colonial Merchants

Traders and business people operating in the colonial period, often involved in the exchange of goods between the colonies and the mother country.

Sons of Liberty

A group of American patriots during the colonial period who used demonstrations and other methods to protest against British taxation.

Intercolonial Association

An organization or alliance formed between different colonial territories, often for mutual support in matters of trade, defense, or governance.