Which Statement Is True

question 118

Multiple Choice

Which statement is true?

• A)Entrepreneurial ability is in short supply in the U.S.
• B)Land,labor and capital may be considered passive resources.
• C)The concept of opportunity cost is irrelevant when there is scarcity.
• D)None of these statements are true.

---

Definitions:

Soviet Union

A socialist state that spanned much of Europe and Asia from 1922 until its dissolution in 1991.

Emergency Banking Act

A law passed in 1933 during the Great Depression that aimed to stabilize the banking sector, restore public confidence, and prevent the failure of banks.

Roosevelt's Inauguration

The ceremony marking the beginning of Franklin D. Roosevelt's presidency, notable for his speech declaring the only thing to fear is "fear itself" during the Great Depression.

Gold Standard

A monetary system where a country's currency or paper money has a value directly linked to gold, ensuring stable prices and exchange rates.