Which of the four categories of resources used in production would include farmable acreage, timber, and natural gas?
a. labor
b. land
c. capital
d. costs
b. land
You might also like to view...
If an epidemic hits a Malthusian economy, the long-term consequence is
A) an increase in the standard of living. B) a reduction in the standard of living. C) no change in the standard of living. D) dependent on the population growth rate.
The smallest contributor to total federal tax revenues in 2014 was the: a. personal income tax. b. corporate income tax. c. excise tax
d. payroll tax.
According to Julian? Simon,
What will be an ideal response?
For a country in autarky, the opportunity cost of the good on the horizontal axis is the same as
A) the relative price of the good on the vertical axis. B) the relative price of the good on the horizontal axis. C) the opportunity cost of the good on the vertical axis. D) the nominal price of the good on the horizontal axis.