Which statement is false?
land is the primary factor of production used in the production of all goods and services.
an entrepreneur combines all the factors of production.
growth in the economy shifts the ppc left.
an economy is efficient if it maximizes utilization of all the available scarce resources.

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii