Consider the following list: a worker with training in video gaming technology, 10 hectares of arable land in southern Ontario, a fishing trawler in Nova Scotia, an ice-cream truck at a park in Quebec. Each of these is an example of
A) a capital resource.
B) goods and services.
C) a factor of production.
D) an economic service.
E) a commodity.
Ans: C) a factor of production.
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Which of the following statements best defines hyperinflation?
A) It is a situation when the annual rate of inflation in an economy is between 20% to 50%. B) It is a situation when the annual rate of inflation in an economy exceeds 50%. C) It is a situation when the annual rate of inflation in an economy is between 10% to 20%. D) It is a situation when the annual rate of inflation in an economy is between 0% to 10%.
If a bank receives $2,500 of reserves by selling a government bond to the Fed, its ability to make loans increases by $2,500
a. True b. False Indicate whether the statement is true or false