Q1) Labor resources include:

a)unskilled workers but not skilled workers.

b)coffee breaks.

c)skilled workers but not unskilled workers.

d)a robot.

e)education and training of workers.

Q2)An economy's resources:

are limited in quantity.

consist of land, labor, capital, and money.

are unlimited when we use the latest technology.

are unrelated to its standard of living.

are always efficiently utilized.

Q3) The difference between what can be produced and consumed without specialization and trade and with specialization and trade is called:

Q4)A price floor does not benefit producers.

T/F

Q5)A price control always benefits consumers.

T/F