Demand for Labor Quiz with Answers PDF Download – Test 85

MCQ 421: The factors of production include land, labor, capital and:

1. machines
2. buildings
3. roads
4. entrepreneurship

MCQ 422: The type of bloc that negotiate with corporations, businesses and other organizations on behalf of union members is known as an:

1. organization
2. market
3. trade bloc
4. union organization

MCQ 423: Factors of production are owned by households and they then consume whatever are being produced by:

1. firms
2. organizations
3. government
4. cities

MCQ 424: When the country's exports are larger than it's imports, and one's country is domestically paying for it's capital then its known as:

1. surplus balance of payments
2. deficit balance of payment
3. net outflow
4. net inflow

MCQ 425: When a country produces a good or service for a lower opportunity cost than other countries, this situation is known as:

1. absolute advantage
2. comparative advantage
3. absolute disadvantage
4. comparative disadvantage