All of the following are considered natural resources EXCEPT
A) a redwood forest. B) labor. C) gold. D) a coral reef.
B
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Jeremiah runs a bullfrog farm in Frogville, Oklahoma. Jeremiah notices that each additional worker he employs adds more to the total output than does the previous worker. Jeremiah must be
A) experiencing increasing marginal returns to labor. B) producing at a point where the average product of labor decreases as more workers are employed. C) producing at a point below his total product curve. D) mistaken because the law of decreasing returns points out that it cannot be the case that the marginal product increases as more workers are employed. E) producing at a point where the average product of labor exceeds the marginal product of labor.
Which of the following is an example of direct foreign investment?
A) A U.S. citizen buys stock in a Mexican company. B) The Bank of China buys U.S. Treasury bonds. C) Apple builds a plant in Ireland. D) A company in England buys inputs to production from a German company.