Natural Resources

question 7

Multiple Choice

Natural resources:

• A) are not physically used up over time.
• B) have a contra account, accumulated amortization.
• C) are recorded on the books using the relative sales-value method.
• D) are depleted using the unit-of-production method.

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Definitions:

High Unemployment

This term refers to a situation where a significantly larger portion of the workforce is without jobs, indicating economic distress or a recession.

Monetarists

Economists who assert that the dynamism in the money supply significantly shapes short-term national economic performance and price levels over the long haul.

Real Output

The total goods and services produced by an economy, measured in constant prices to adjust for inflation, synonymous with real GDP.

Incentives

Something that motivates or encourages an individual or group to perform or act in a certain way.