To determine whether a nation has an "abundance" of a resource, economists look at:
a. the exports of the nation.
b. the imports of the nation. the total quantity of that resource compared with
c. the total quantity of the other resource.
d. a nation's share of the resource compared with its share of world GDP
Answer: d. a nation's share of the resource compared with its share of world GDP
Economics
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If the Fed raises the federal funds rate,
A) investment increases. B) real GDP increases. C) exports increase and imports decrease. D) exports decrease and imports increase. E) in the short run the interest rate falls.
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Economists generally consider the use of taxes as the most efficient way of solving pollution problems
a. True b. False Indicate whether the statement is true or false
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