Any payment to a factor of production in excess of what is necessary to keep that factor in its present employment is known as?

What is meant by labour supply?

A. Number of people in the working population B. Number of men and hours they work C. Number of hours during which the middle-aged persons work D. Number of workforces multiplied by the hours they work Correct Answer: Option A – Number of people in the working...
Any payment to a factor of production in excess of what is necessary to keep that factor in its present employment is known as?

An aging population is a population?

A. with a high dependency ratio B. with many young people C. in which the number of old persons is increasing D. that is dominated by very old people Correct Answer: Option C – in which the number of old persons is...

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