One basic difference between "land" and "capital" resources is that land is
A. a gift of nature, while capital is manufactured.
B. manufactured, while capital is a gift of nature.
C. unlimited, while capital is limited.
D. limited, while capital is unlimited.
Answer: A
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What will be an ideal response?
The figure above represents the demand and cost functions facing a Brazilian Steel producing monopolist. The Brazilian firm is charging its foreign (U.S.) customers one half the price it is charging its domestic customers
Is this good or bad for the real income or economic welfare of the United States? Is the Brazilian firm engaged in dumping? Is this predatory behavior on the part of the Brazilian steel company?
Technological improvement
A) can hide the presence of diminishing returns. B) can be shown as a shift in the total product curve. C) allows more output to be produced with the same combination of inputs. D) All of the above are true.
Which of the following actions by the Fed would increase the money supply?
A. reducing the required reserve ratio B. selling government bonds in the open market C. increasing the discount rate D. increasing the income tax rate