Question

1. The four factors of production are
a. labor, land, capital, and entrepreneurship.
b. wages, rent, dividends, and royalties.
c. educational attainment, work experience, seniority, and age.
d. effort, ability, timing, and luck

Answer 1

2. The labor force participation rate for women in the United States
a. has remained constant since the year 2000.
b. peaked in the year 2012.
c. has been lower than the labor force participation rate for men since 1948.
d. has been equal to the labor force participation rate for men since 1995.

Answer 2

a. labor, land, capital, and entrepreneurship.

Answer 3

b. peaked in the year 2012.