10.Amount that is paid by firm or Government to factors of production is called:  A. Factor Payments  B. Government Expenditure  C. Pvt Expenditure  D. Payment for imports

The demand for a factor of production is called a derived demand because it is derived fromSelect one:a.the demand for goods and services produced by the factor of productionb.a table of specific prices and quantitiesc.a financial marketd.the supply of the factor of production

Which of the following is a component of Net factor income from abroad?(a) Net subsidies(b) Net retained earnings of resident companies abroad(c) Net current transfers(d) Net indirect taxe

Another term for factors of production isGroup of answer choicesoutputs.revenues.inputs.costs.profits.

What is the term for payment received by an owner of a factor of production in excess of the opportunity cost of producing that factor?Multiple choice question.Economic rentEconomic costMarginal costMarginal rent

Foreign payments to capital, labor, and land owned by domestic entities minus payments to factor service imports equals:[Hint: see page 6 of lecture 5A]Group of answer choicesthe trade balance.the net unilateral transfers.the difference between gross national income and gross national expenditure.the difference between gross national income and gross domestic product.