Which of the following lists would an economist consider to be land?
a) factories, office buildings, assembly lines, workers
b) farm fields, tractors, pesticides, fertilizers
c) dams, bridges, rock quarries, oil wells
d) iron ore, natural gas, fertile soil, water
Ans: d) iron ore, natural gas, fertile soil, water
Economics
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The population is 1,000 million, the labor force is 750 million, and the number of unemployed is 30 million. What is the unemployment rate?
A) 4 percent B) 3 percent C) 10 percent D) 7.5 percent
Economics
Which of the following goods would have the smallest elasticity of demand?
A) Exxon brand premium unleaded gasoline B) insulin sold to diabetics C) an education at Harvard Law School sold to recent college graduates D) a bottle of Bayer Aspirin sold to someone without a headache
Economics