A country with a large, relatively unskilled labor force using labor-intensive methods to grow crops is an example of

a. efficient use of scarce resources
b. inefficient use of scarce resources
c. a third-world country
d. marginal costs

Answer: a. efficient use of scarce resources

Economics

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A long-term loan that is given to a firm is known as a

A) share of stock. B) bond. C) dividend. D) random walk.

Economics

A wage sufficient to keep a family out of poverty is called the

A. living wage. B. minimum wage. C. maximum wage. D. just wage.

Economics