Labor resources:
a. include only physical activities.
b. are only counted as a resource if used in the production of other resources.
c. include only skilled labor.
d. include both physical and mental activities.
e. include human effort involved in the production of goods, but not services.
d
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If inflation is completely anticipated,
A) lenders lose in the economy. B) borrowers lose in the economy. C) firms lose because they incur menu costs. D) no one loses in the economy.
If economic profit is zero, then a normal profit is earned
a. True b. False Indicate whether the statement is true or false
The practice of packaging individual debts into a single uniform asset that can be easily bought and sold is called:
A. leveraging. B. securitization. C. federally-backed financing. D. bundled risk.
Give an example of a good that would be included in the GDP and another good that would not be included in the GDP. Explain why one would be included and the other wouldn’t. Avoid using examples given in the text.
What will be an ideal response?