A natural resource, such as fishing territories, is considered an example of
A) both land and labor.
B) land, labor, capital and entrepreneurship.
C) land only.
D) only capital.
C
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As the stock of capital grows, there will typically be ________ depreciation
A) less B) more C) the same amount of D) no
When the demand for housing slumps, carpenters might expect their incomes to fall
a. True b. False
Bans and quotas ________ in situations where it is difficult or costly for authorities to monitor and punish rule-breakers.
A. often succeed B. always succeed C. sometimes succeed D. rarely succeed
One explanation for the growth in the U.S. economy over the last 100 years is:
A. a large increase in human capital. B. Human capital was not the cause of growth in the United States over the last 100 years. C. a rapid decline in human capital. D. a small, incremental increase in human capital.