In the circular-flow diagram, which of the following do firms NOT do?   a. use factors of production to produce output    b. produce goods and services    c. hire workers    d. produce factors of production

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What is a labor abundant economy? A higher level of capital per worker No labor input in the production system Production that require a high level of capital Production that requires a low level of capital

When Main Street Bank buys new automatic teller machines, the quantity of land and natural resources labor O physical capital entrepreneurial ability, technology, and ideas in the economy increases.