Kauri’s country is building new factories to help increase the country’s production of woolen cloth. What is Kauri’s country investing in?
a. technology
b. human capital
c. natural resources
d. physical capital
d. physical capital
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The largest component of GDP as measured by the expenditure approach is:
a. wages and salary earnings. b. personal consumption. c. net profits of corporations. d. gross private investment.
Greater scarcity of a natural resource is indicated
a. by an increase in the price of the resource, whether the price increase is less than or greater than the rate of inflation. b. only by an increase in the price of the resource that is less than the rate of inflation. c. only by an increase in the price of the resource that is greater than the rate of inflation. d. only by an increase in the price of the resource that is caused by a decrease in supply and is greater than the rate of inflation.