Which of the following is the fundamental resource that is the basis of labor?
a. capital
b. natural resources
c. time
d. money
e. entrepreneurial ability
C
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The neoclassical theory of investment was pioneered by
A) Dale Jorgenson. B) James Tobin. C) John Maynard Keynes. D) Paul Samuelson.
Refer to the scenario above. Which of the following combinations will lie above Jack's production possibilities curve?
A) 2 paintings and 3 sculptures B) 5 sculptures only C) 10 paintings only D) 3 paintings and 5 sculptures
Patents ________ permit investors to have a monopoly on their innovation and ________ permit them to earn economic profit.
A) do not; do not B) do; do not C) do; do D) do not; do
When the money supply is increased, what do monetarists expect to happen to the nominal or market rate of interest?
A. It will rise immediately. B. It will fall in the short run, then rise in the long run. C. It will rise in the short run, then fall in the long run. D. It will fall and remain lower.