Factor mobility refers to Multiple Choice O Technological change in the use of capital. O The increase in labor productivity. O The ease of reallocating resources. O Technological change in the use of labor.Which of the following is likely to be most capital-intensive? Multiple Choice O Farming in developing countries. O Production of clothing in rural China. O Oil refining in the United States. O None of the choices are correct.What percentage of the world's population subsists on incomes of less than $3 a day? Multiple Choice O 70 percent. O 60 percent. O 40 percent. O 50 percent.A monopoly exists when Multiple Choice O A large number of firms are producing a good. O One firm produces all the output for a particular good or service. O A small number of firms are the only producers of a good. O The government intervenes on behalf of consumers.Production processes that use a high ratio of capital to labor inputs are referred to as Multiple Choice O Capital-intensive. O Production-intensive. O Factor-intensive. O Labor-intensive.Which of the following contributes to the high productivity of American workers? Multiple Choice O The low level of factor mobility. O The labor-intensive production process in the United States. O The abundance of capital relative to labor. O The decreasing investment in human capital.Which of the following statements about the way markets allocate resources is most accurate from society's perspective? Multiple Choice O The market always allocates resources in the best way. O The market may not always allocate resources in a way that is in society's best interest. O Markets always fail to allocate resources properly, so we must rely on the government to determine the proper use of our resources. O Resource allocation by markets may not be perfect, but it is always better than government allocation of resources.Income in equality tends to be greatest in Multiple Choice Poorest countries. Mlodlelncome countries. Richest countries. 0 O O 0 None of the choices are correct. Which of the following has been a century-long trend in the United States? Multiple Choice O Relative decline in service sector to manufacturing. O Relative decline in manufacturing to the service sector. O Decline of total value of world trade. O Relative increase in farming to manufacturing.The best measure of how much output the average person would get if all output were divided evenly among the population would be Multiple Choice O Per capita GDP. O The economic growth of the economy. O GDP. O The capital stock of the economy.In providing a legal framework, the government Multiple Choice O Protects patents to encourage entrepreneurship. O Protects copyrights to encourage textbook protection. O Protects the ownership of private property to encourage the private sector. O All of the choices are correct.As a nation's average education level increases, the nation's level of productivity Multiple Choice O Increases, and the nation moves to a new point on the same production possibilities curve. O Decreases, and the nation moves to a new point on the same production possibilities curve. O Increases, and the production possibilities curve shifts to the right. O Decreases, and the nation's production possibilities curve shifts to the left.The purpose of antitrust policy in the United States is to Multiple Choice O Determine drug safety and performance. O Encourage competition among producers. O Check the validity of advertising claims. O Encourage business mergers and acquisitions.An example of a positive externality ls Multiple Choice Increased factory use of private sector robotics that came from government research. Increased health problems from air pollution. Increased business prots at a hardware store that beneted from a tornado. O O O 0 None of the choices are correct. Outsourcing leads to Multiple Choice O Increases in productivity and decreases in total output. O Decreases in productivity and increases in total output. O Decreases in productivity and decreases in total output. O Increases in productivity and increases in total output.The World View article titled "The Education Gap between Rich and Poor Nations" says that a greater percentage of people graduate from high school in rich nations than in poor nations. This investment in human capital can lead to Multiple Choice O A bigger capital stock. O Lower productivity. O Lower labor quality. O Increased output per worker.In the United States today, nearly of the population has attained a college degree. Multiple Choice O 50 percent O 15 percent O 40 percent O 30 percentThe richest 20 percent of the families in the United States receive approximately percent of total income. Multiple Choice O 10 O 20 O 50 O 90Which of the following is an example of an external cost? Multiple Choice O Unemployment. O Unfair pricing behavior by a monopoly. O Eating a sandwich at a local deli O Automobile exhaust fumes.Which of the following statements is true concerning income inequality? Multiple Choice O The government has no way to alter income inequality. O The free market produces an unequal distribution of income. O Developed countries have greater income inequality than developing countries. O Income is equally distributed in poor countries