In the United States,the Productive Factor That,as a Group,receives the Largest

question 57

Multiple Choice

In the United States,the productive factor that,as a group,receives the largest fraction of the nation's total income was

• A) labor.
• B) capital.
• C) consumption goods and services.
• D) entrepreneurship.
• E) land.

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Definitions:

Resource Trap

The situation when a country or region relies heavily on a single natural resource for economic growth, potentially hindering long-term development.

Social Loafing

Social loafing is the tendency of individuals to exert less effort when working in a group compared to when working individually, due to perceived diffusion of personal responsibility.

Altruistic Punishment

A behavior where individuals punish others for breaking societal norms, even at a cost to themselves, to enforce cooperative behavior.

Cheat The System

Engaging in dishonest or unethical practices to gain an advantage or bypass rules.