Which of the following statements is false?
A) To an economist, the resource land includes natural resources such as minerals, forests, water and unimproved land.
B) To an economist, the resource capital consists of unproduced goods that can be turned into produced goods.
C) To an economist, the resource labor consists of the physical and mental talents people contribute to the production process.
D) To an economist, the resource entrepreneurship refers to a particular talent that some people have for organizing the resources of land, labor, and capital to produce goods, seek new business opportunities, and develop new ways of doing things.
B
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If the supply of dollars in the market for foreign-currency exchange shifts right, then the exchange rate
a. rises and the quantity of dollars exchanged falls. b. rises and the quantity of dollars exchanged does not change. c. falls and the quantity of dollars exchanged rises. d. falls and the quantity of dollars exchanged does not change.
Refer to the diagram. Consumption equals disposable income when:
A. disposable income is B.
B. disposable income is D.
C. CD equals A.
D. B equals CD.