Which of the following is an example of a renewable natural resource?
a. the knowledge possessed by scientists
b. carpenters' labor services
c. lumber
d. All of the above are correct.
c
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Suppose the quantity of oranges demanded is less than the quantity supplied. Then
A) the market still clears, because consumers can buy all the oranges they wish at the prevailing market price. B) the market still clears, because producers can sell all the oranges they wish at the prevailing market price. C) the market clears, but is not fully coordinated. D) oranges are no longer scarce goods. E) none of the above is true.
Compare perfect competition and monopolistic competition. In what ways are they similar? In what ways are they different?
What will be an ideal response?
Creating economic growth:
A. is well understood by macroeconomists. B. has no central tenets upon which the theory is based. C. involves savings, capital, labor, and technology. D. is an easy thing for policy-makers to achieve with correct taxation policy.
If the money demand curve shifts rightward, the AD curve also shifts rightward
a. True b. False