Which of the following statements about economic resources is false?
A) Economic resources are also called factors of production.
B) Economic resources include financial capital and money.
C) Economic resources are used to produce goods and services.
D) Some economic resources are human-made while others are found in nature.
B
Economics
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Assume that for the third quarter of 2012, actual real GDP was $176.1 billion and potential real GDP was $163.9 billion. According to Okun's law, the cyclical unemployment rate during the third quarter of 2012 was
A) -6.1%. B) -3.7%. C) 3.5%. D) 6.1%.
Economics
If exports rise and imports fall, then
a. GDP will increase b. GDP will decrease c. GDP may remain unchanged d. net exports will fall e. transfers will rise
Economics