An increase in the quantity and quality of natural resources is a demand factor for economic growth.
Answer the following statement true (T) or false (F)
False
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Which of the following is the correct formula for computing GDP?
a. GDP = consumption + private investment + government spending + exports - imports b. GDP = consumption + public investment + government spending + exports - imports c. GDP = consumption + private investment + government spending - exports - imports d. GDP = consumption + private investment + government spending + transfers e. GDP = consumption + private investment + tax revenue + transfers
When economists speak of "demand" in a particular market, they refer to
A. the whole demand curve or schedule. B. one price-quantity combination on the demand schedule. C. one point on the demand curve. D. how much of an item buyers want to buy at a given price.
If Country X has a higher labor productivity than the rest of the world in the production of a good, then Country X has a comparative advantage in the production of the good.
Answer the following statement true (T) or false (F)
Public Broadcasting, in its fund drives, often appeals to viewers by saying, "without you, there will be no Big Bird." This is likely to ________ the free-rider problem and lead to a ________ level of contribution to the public good.
A. increase; smaller B. increase; larger C. reduce; smaller D. reduce; larger