Because Workers in the U

question 541

Multiple Choice

Because workers in the U.S. economy receive most of the total income earned, which of the following factors of production is considered to be the most important?

• A)profit
• B)wages
• C)interest
• D)labor

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Definitions:

Electronic Goods

Products that use electric power for their operation, including consumer electronics like phones, TVs, and computers.

Law Of One Price

The economic theory stating that in an efficient market, identical goods must have only one price.

Trade Barriers

Restrictions set by a government to control international trade, often to protect domestic industries.

Purchasing Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach to assess the relative value of the currencies.