Which of the following is NOT an economic resource?
A. coal
B. low-skilled labor
C. company stock share
D. an economist
Answer: C
You might also like to view...
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Refer to Figure 21-13. What is the consumer’s marginal rate of substitution as she moves from A to B?
A monopolistically competitive firm is like a perfectly competitive firm insofar as
A) both face perfectly elastic demand. B) both make an economic profit in the long run. C) both have MR curves that lie below their demand curves. D) both make zero economic profit in the long run.
When Brazil can generate a product using fewer labor hours and resources than the United States, an economist would say that Brazil had:
A. a comparative advantage in production of the product. B. an absolute advantage in production of the product. C. a higher opportunity cost of producing the product. D. no incentive to import the product, regardless of the cost-price conditions for other products.