Which of the following statements are correct? i) The 4 production factors are Capital, Labour, Land and
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Question:
Which of the following statements are correct?
i) The 4 production factors are Capital, Labour, Land and Enterpreneurship.
ii) Lower interest rates cause inflation.
iii) A price Floor leads to surplus production.
iv) If products X and Y are complimentary, an increase in X's price will lead to an increase in demand for Y.
v) The elasticity of products changes over time.
A) ii, iii, iv
B) i, iii, v
C) i, iii
D) ii, iv, v
E) i, ii, iii, v
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