Which of the following is not an example of a natural resource?
A. River
B. Forest
C. Coal deposit
D. Piece of machinery
D. Piece of machinery
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Legislation setting high minimum wage rates benefits
A) many people receiving wages far above the minimum by reducing competition from unskilled workers. B) no group in the economy, but is nonetheless widely supported out of ignorance. C) only people who were previously receiving less than the legal minimum. D) primarily teenagers and unskilled workers. E) the whole economy by pushing up average income.
In the model of public goods
A) government spending is pure waste B) private consumption and government spending are equal. C) consumers benefit from private goods and public goods. D) the government provides goods at no cost to the public.
According to Joseph Schumpeter, the success of capitalism relies on:
a. continuous, small improvements to existing products. b. "gales of creative destruction." c. careful government direction of the manufacturing sector. d. a strong agricultural sector to support the manufacturing workforce.
The difference between U.S. financial regulation between the 1930s-to-1980 period and the 1980-to-2010 period is:
a. The earlier period was characterized by heavy government regulations and the later one was characterized by looser government regulations. b.The earlier period was characterized by heavy use of the originate-to-distribute" strategy. c. The earlier period was characterized by recurring, nation-wide speculative housing bubbles. d. The earlier period was characterized by heavy use of securitization. e. All of the above.