An economy's resources:
a. include land, labor, capital, and entrepreneurial skills
b. are unlimited in a country like the United States.
c. are always efficiently utilized in wealthy nations.
d. consist of land, labor and capital, but not entrepreneurial skills.
a
Economics
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Refer to Figure 26-13. In the figure above, if the economy in Year 1 is at point A and is expected in Year 2 to be at point B, then the appropriate monetary policy by the Federal Reserve would be to
A) raise interest rates. B) lower income taxes. C) lower interest rates. D) raise income taxes.
Economics
Refer to Figure 24-4. Given the economy is at point A in year 1, what will happen to the price level in year 2?
A) It will remain constant. B) It will fall. C) It will rise. D) not enough information to answer the question
Economics