Which of the following productive resources is considered 'fundamentally different' from other resources with respect to supply and diminishing returns?
A. technology.
B. land.
C. labor.
D. physical capital.
Answer: A
You might also like to view...
Which of the following organizations keeps track of all interstate commodity shipments by state of origin and state of destination in the United States?
A) Bureau of Trade Statistics B) Bureau of Transportation Statistics C) Bureau for Foreign Assistance D) Bureau of the Treasury Department
The side effect of an action that increases the well-being of others is called
A. an augmentation. B. an elasticity. C. a passive benefit. D. a positive externality.
Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.
Figure 4.4Refer to Figure 4.4. If a $25 per barrel tariff is levied on imported oil, the United States will
A. import 10 million barrels of oil per day. B. import 2 million barrels of oil per day. C. import 6 million barrels of oil per day. D. export 10 million barrels of oil per day.
Trade allows each person to specialize in the activities he or she does best, thus increasing each individual's productivity
a. True b. False Indicate whether the statement is true or false