In the long run, an economy's production of goods and services depends on its supply of
a. labor, natural resources, capital, and available technology.
b. labor, natural resources, and capital only
c. labor, and natural resources only.
d. labor only.
a
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Answer the following statement(s) true (T) or false (F)
1. Under the Superfund Act, the EPA has the authority to require those responsible for a hazardous substance release, known as potentially responsible parties (PRPs), to correct the problem and pay for damages. 2. Lack of good information was among the issues facing the United States as it began to address the hazardous waste site problem in the nation. 3. The feedstock taxes to finance Superfund were devised mainly to act as a market incentive to improve the environment. 4. According to the textbook application, General Electric is dredging the Hudson River because it illegally released tons of pesticides into the river, starting in 1940. 5. To establish legal responsibility under the Superfund Act, courts use strict liability as well as joint and several liability.
Kiana’s country begins offering free college education to its citizens. This will most likely impact its production possibilities curve by ______.
a. causing it to spike b. shifting it outward c. shifting it inward d. causing it to trend downward
If the marginal cost were $12, how many units of output would this firm produce?
A. 1
B. 2
C. 3
D. 4
Which of the following would most likely reduce aggregate demand (shift the AD curve to the left)?
A. A reduced amount of excess capacity. B. Increased government spending on military equipment. C. An appreciation of the U.S. dollar. D. Increased consumer optimism regarding future economic conditions.