Factors Tend to Be Specific to Certain Uses and Products

question 21

Multiple Choice

Factors tend to be specific to certain uses and products

• A) in capital-intensive industries.
• B) in labor-intensive industries.
• C) in the short run.
• D) in countries lacking fair labor laws.
• E) in countries lacking comparative advantage.

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Definitions:

Household Income

The combined gross income of all members of a household, used for various financial assessments.

Wage Income

Earnings received from an employer for labor or services performed, typically calculated on an hourly, daily, or piecework basis.

Form W-2

The form used by employers to report an employee's annual wages and the amount of taxes withheld from their paycheck.

Form 1099-G

A tax form used to report certain types of payments, including unemployment compensation, state or local income tax refunds, and other government payments.