Economists divide productive resources into which of the following four broad categories?
a. land, labor, money, enterprise.
b. land, labor, capital, enterprise.
c. minerals, unskilled labor, semi-skilled labor, skilled labor.
d. land, buildings, machinery, money.
b. land, labor, capital, enterprise.
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Which of the following is not included in Nation A's financial account?
a. Foreign deposits of funds in savings accounts in Nation A. b. Purchases and sales of land and other natural resources. c. Foreign purchases of Nation A's Treasury bills. d. All the above.
An increase in the number of buyers in a particular market for a good will result in a ___________________ for that good
A) movement up along the demand curve B) movement down along the demand curve C) leftward shift in the demand curve D) rightward shift in the demand curve
According to the rule of 70, a nation that has an economic growth rate of 5 percent will double its output in ______ years.
a. 14 b. 35 c. 3.5 d. 7
Studies of U.S.-Canadian free trade have concluded that free trade produced what effect on Canadian firms?
a. increased productivity b. decreased productivity c. no change in productivity d. could not be determined