Resources from nature that can be used to to produce other goods and services are called:

Select one:

a.

money.

b.

natural resources.

c.

labor.

d.

capital.

Increasing the level of education in the United States will:

Select one:

a.

shift the production possibilities curve to the left.

b.

improve the level of technology.

c.

lead to increased natural resource use.

d.

lead to workers possessing greater human capital.

Technology is:

Select one:

a.

knowledge that can be applied to the production of goods and services.

b.

generally unlimited in modern economies.

c.

a graphical illustration of the alternative combinations of goods and services an economy can produce.

d.

the resources the economy has available to produce goods and services.

A person who seeks to earn profits by finding ways to organize factors of production is called a/an:

Select one:

a.

foreman

b.

finance capitalist.

c.

entrepreneur.

d. manage

Exhibit: Guns and Butter Guns per period A 18 Production possibilities 16 curve 12 8 E "H F A 8 12 16 18 20 Butter per period