Which of the following is not considered to be a resource in economics?
A. land
B. labor
C. machinery
D. money
Answer: D. money
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John Amaker owns orange groves and hires pickers for a two-week period as shown in Table 7-3.Table 7-3 Pickers Oranges Picked 1 1,000 2 2,000 3 3,000 4 3,900 5 4,700 6 5,400 7 6,000 8 6,200 9 6,000 In Table 7-3, negative returns set in with picker
A. 6. B. 7. C. 8. D. 9. E. There are no negative returns in this table.
Political instability is an impediment to development mainly because it:
A. undermines both domestic and foreign investment in a developing country. B. creates cultural and social differences among groups in developing countries. C. produces excessive levels of domestic saving. D. redistributes income.
An estimate of a household's long-run average income is called permanent income.
Answer the following statement true (T) or false (F)
The euro, as a common currency, was in use in the financial market only between ________.
A. 2000 and 2010 B. 2000 and 2005 C. 1999 and 2010 D. 1999 and 2001