Refer to above Table 2-2. Choosing the prices of year 2 gives a ________ increase in real GDP because year 2 prices place a ________ valuation on quantities that have increased ________ rapidly

Select the group that best represents the basic factors of production

A) land, labor, capital, entrepreneurship B) land, labor, money, management skills C) land, natural resources, labor, capital D) land, labor, capital, technology

If the price of a hamburgers increases, the substitution effect works to

a. decrease the quantity of hamburgers supplied b. increase the number of hamburger buns demanded c. decrease the quantity of hamburgers demanded d. increase the number of hamburger buns supplied e. increase the quantity of hamburgers demanded