Natural resources, or land, can include the fertility of the land, minerals below it, and what other aspects?
A. human capital resources
B. human resources
C. livestock
Ans: C. livestock
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In the above figure, the relationship between x and y is
A) positive, with slope decreasing as x increases. B) negative, with slope decreasing as x increases. C) negative, with slope increasing as x increases. D) positive, with slope increasing as x increases.
Refer to Figure 6-12. The diagram shows two supply curves, SA and SB. As price rises from P0 to P1, which supply curve is more elastic?
A) They are equally inelastic. B) SB C) They are equally elastic. D) SA
The total welfare associated with a market that includes a government sales tax equals
A) consumer surplus plus producer surplus. B) consumer surplus plus producer surplus minus government tax revenue. C) consumer surplus plus producer surplus plus government tax revenue. D) the government tax revenue.
A recessionary gap develops _____
Fill in the blank(s) with the appropriate word(s).