Money is not considered to be an economic resource because:
A) money, as such, is not productive.
B) idle money balances do not earn interest income.
C) the terms of trade can be determined in non-monetary terms.
D) money is a free gift of nature.
78) Which of the following is real capital?
A) a pair of stockings
B) a dump truck
C) a savings account
D) a share of TD Bank stock
79) The main function of the entrepreneur is to:
A) make routine pricing decisions.
B) innovate.
C) purchase capital.
D) create market demand.
80) The following production possibilities table represents an economy which is producing two products, tanks and autos. Refer to the table, in moving from possibility C to D, the cost of a tank in terms of autos is:
Product | A | B | C | D | E | F |
Tanks | 0 | 1 | 2 | 3 | 4 | 5 |
Autos | 1000 | 950 | 850 | 650 | 350 | 0 |
A) 50
B) 100
C) 200
D) 300
81) (The following economy produces two products.)
Production Possibilities Table
Production Possibilities Table
Product | A | B | C | D | E | F |
Steel | 0 | 1 | 2 | 3 | 4 | 5 |
Wheat | 100 | 90 | 75 | 55 | 30 | 0 |
Refer to the above table. A change from possibility C to B means that: