Which of the Following Correctly Lists the Categories of Factors

question 88

Multiple Choice

Which of the following correctly lists the categories of factors of production?

• A) machines, buildings, land, and money
• B) hardware, software, land, and money
• C) capital, money, and labor
• D) owners, workers, and consumers
• E) land, labor, capital, and entrepreneurship

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Definitions:

Expected Inflation

The anticipated rate at which the general level of prices for goods and services will rise over a period of time, affecting the purchasing power of a currency.

Short-Run Phillips Curve

A graphical representation showing the short-term trade-off between inflation and unemployment rates.

Inflation

The rate of increase in the collective pricing for goods and services, lessening consumer purchase strength.

Less Optimistic

Feeling or expressing a lower expectation that good events will occur or that negative events will not happen.