The United States' economy is the largest in the world because
A.) it has a high quantity and quality of capital resources.
B.) the government directs resources to the most desirable outcomes.
C.) it has abundant natural and human resources.
D.) Both A and C are correct.
D.) Both A and C are correct.
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A chemical factory releases its byproducts in a nearby river, which harms aquatic flora and fauna. This is an example of a ________
A) free-rider problem B) negative externality C) pecuniary externality D) positive externality
If a country is producing efficiently and is on the production possibilities frontier, the country can produce more of one good without producing less of the other good
Indicate whether the statement is true or false
A small open economy is an economy
A) in which both imports and exports are less than 5% of GDP. B) whose firms and consumers are individually, but not collectively price takers. C) whose firms and consumers are collectively, but not individually price takers. D) whose firms and consumers are individually and collectively price takers.
A country has $100 million of net exports and $170 million of saving. Net capital outflow is
a. $70 million and domestic investment is $170 million. b. $70 million and domestic investment is $270 million. c. $100 million and domestic investment is $70 million. d. None of the above is correct.