Which of the following is true of resources?
A. Resources are outputs from the production of goods and services.
B. A $1,000 investment is an example of a capital resource.
C. Entrepreneurship organizes resources to produce goods and services.
D. Land resources do not include water.
Answer: C
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The principle of comparative advantage explains specialization and trade among countries but not among individuals
a. True b. False Indicate whether the statement is true or false
In 1998, Japan decided to make the Bank of Japan, its central bank,
a. more independent. b. more concerned with fighting inflation. c. subject to direct control by the Japanese prime minister. d. subject to direct control by the Diet, the Japanese parliament.
If net exports are negative, then
a. net capital outflow is positive (indicating an inflow of capital), so foreign assets bought by Americans are greater than American assets bought by foreigners. b. net capital outflow is positive (indicating an inflow of capital), so American assets bought by foreigners are greater than foreign assets bought by Americans. c. net capital outflow is negative (indicating an outflow of capital), so foreign assets bought by Americans are greater than American assets bought by foreigners. d. net capital outflow is negative (indicating an outflow of capital), so American assets bought by foreigners are greater than foreign assets bought by Americans.
With an upward-sloping AS curve, a decrease in transfer payments can lead to a decrease in inflation.
Answer the following statement true (T) or false (F)