Lumber,coal,and Iron Ore Are Examples of _____

question 3

Multiple Choice

Lumber,coal,and iron ore are examples of _____.

• A)consumables
• B)convenience goods
• C)raw materials
• D)specialty goods

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Definitions:

United States

A country located in North America, known for being the world’s largest economy and a federal republic consisting of 50 states and a federal district.

Real GDP

Inflation-adjusted Gross Domestic Product, offering a clearer view of an economy's actual size and its growth trajectory over periods.

Growth Rate

A measure of the increase in size, number, value, or strength of a variable over a specific period of time.

Productivity

The measure of how efficiently goods and services are produced, often evaluated as the output per unit of input, such as labor or capital.