Usually an abundance of natural resources ________ average labor productivity.
A. has no effect on
B. decreases
C. increases
D. doubles
Answer: C
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When a firm ignores the opportunity cost of capital when making investment or shutdown decisions, this is a case of
a. Fixed-cost fallacy b. Sunk-cost fallacy c. Hidden-cost fallacy d. None of the above
Which of the following combinations would be on an aggregate demand curve with a spending growth rate of 6%?
What will be an ideal response?
Consider two people involved in a marriage or relationship. If, when one person is caught cheating on their agreement, the other divorces or leaves them, then they are using a:
A. tit-for-tat strategy. B. grim-trigger strategy. C. dominant strategy. D. predatory strategy.
For ________ goods, market demand is the horizontal summation of individual demand curves and for ________ goods, market demand is the vertical summation of individual demand curves.
A. public; private B. nonexcludable; excludable C. private; public D. nonrival; rival