A movement along the aggregate production function is the result of a change in
A) the quantity of labor.
B) technology.
C) capital.
D) interest rates.
A
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In the economic way of thinking, information is a scarce economic good because
A) people need more information. B) modern-day capitalism turned information into a tradable commodity. C) it is valuable, and there are opportunity costs to get it. D) a political conspiracy limits its production to keep citizens uninformed.
Professor I.M. Dismal retired from his economics faculty position at the age of 66. Is he now unemployed?
A) No, because he is retired. B) No, because he is over the age of 65. C) Yes, because he is not employed. D) Yes, if he is looking for some other job.
If there are 10,000 people in your age bracket, and 10 of them died last year, an insurance company believes that the probability of someone in that age bracket dying this year would be
A) 0. B) .001. C) .0001. D) 1,000.
The three major categories of resources are
a. human resources, physical resources, and natural resources. b. scarce resources, capital resources, and abundant resources. c. financial resources, global resources, and local resources. d. common resources, private resources, and capital resources.