Resources from nature that can be used to produce other goods and services are called:
A) money.
B) natural resources.
C) labor.
D) capital.
Ans: B) natural resources.
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The interest rate effect on aggregate demand indicates that a(n) ________.
A. decrease in the price level will decrease the demand for money, decrease interest rates, and increase consumption and investment spending B. increase in the supply of money will increase interest rates and decrease interest-sensitive consumption and investment spending C. increase in the price level will decrease the demand for money, reduce interest rates, and decrease consumption and investment spending D. decrease in the price level will increase the demand for money, increase interest rates, and decrease consumption and investment spending
________ would be the source of a "real" business cycle
A) Unanticipated changes in monetary policy B) Anticipated changes in monetary policy C) Technology shocks D) all of the above
A graphical representation of the choices between two allocations of resources is called
A) the production possibilities frontier. B) supply and demand. C) the free choice model. D) the moral hazard model.
Demand curves for pure public goods satisfy the law of demand.
A. True B. False C. Uncertain