Which of the following is considered an economic resource?
A. The ice cream that kids buy at the ice cream parlor
B. The HD-TV sets in people's homes
C. The land that is designated as national parks by the government
D. shoppers buying stuff at the mall
Answer: C
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In the United States today, economists estimate that the natural rate of unemployment is between ________ and ________ percent
A) 3; 5.5 B) 3; 4 C) 6.5; 7.5 D) 5; 6.5
Explain how the presence of a superstar basketball player can increase the marginal revenue product of the other players on the team
An increase in the average price level in a country will cause its domestic currency to depreciate
a. True b. False Indicate whether the statement is true or false
Graphically inflation shocks shift the ________ and shocks to potential shift the ________.
A. long-run aggregate supply line; short-run aggregate supply line B. aggregate demand curve; long-run aggregate supply line C. aggregate demand curve; short-run aggregate supply line D. short-run aggregate supply line; long-run aggregate supply line