The Factor of Production Called "Land" Can Be Defined As

question 55

Multiple Choice

The factor of production called "land" can be defined as:

• A)the earth and anything in it used to produce goods and services.
• B)that area of the earth exchanged in the real estate market by businesses.
• C)the fraction of total costs spent on rent,lease,or mortgage.
• D)the earth and any structures on it that are used to produce goods and services.

Understand the role of foreigners in the U.S. economy as creditors and owners in the 1980s.

Describe the components and significance of the balance of payments and its accounts.

Explain the impact of currency valuation/devaluation on international trade and investment.

Define the current account and capital account, and their relationship with the U.S. economy's performance.

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Definitions:

Culture

The shared attitudes, values, norms, practices, languages, and material objects of a society that are passed from one generation to the next.

Cephalocaudal Development

A pattern of growth where infants develop motor skills from their head down through the body to the feet.

Crawl

A movement involving the hands and knees or dragging the body along the ground.

Sit Unsupported

The ability of an individual to maintain an upright sitting position without external support.