Which of the following statements is true?
A) Oil is classified as part of the resource category land.
B) A person working for a company is classified as part of the resource category capital.
C) A machine in a factory is classified as part of the resource category land.
D) A person with the particular talent for organizing the resources of land, labor, and capital to produce goods, seek new business opportunities, and develop new ways of doing things is classified as part of the resource category labor.
E) a and d
A
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What are the direct and indirect effects of an increase in the money supply?
What will be an ideal response?
About planning on capacity utilization: Producers typically
a. disregard interest rates when making long-term decisions about capacity utilization b. end up with high interest rates when planning for future capacity utilization c. operate at 100 percent capacity d. enjoy carrying excess productive capacity e. choose a capacity rate that gives them some degree of short-run flexibility