Assuming that C = $6,200, I = $1,300, G = $1,100, Exports = $630, Imports = $750, and Depreciation = $600 (all in billions of dollars), GDP equals $7,880

Which of the following statements about the economic concept of land is not true?

a. Land includes forests, minerals, and other natural resources. b. Countries that are rich in natural resources are not always successful in exploiting these resources to produce goods and services. c. Land can be combined with labor and capital to produce goods and services. d. Abundant natural resources are necessary for economic growth. e. Countries that lack natural resources need not be characterized by limited economic growth.

What are some examples of the four different market structures?

What will be an ideal response?