Reference no: EM132948872

Problem 1: Resource development is:

Option 1: The study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and individuals.

Option 2: The study of how to increase the amount of available resources and create conditions that will make better use of these resources.

Option 3: The part of economics that looks at the operation of a nation's economy as a whole.

Option 4: The part of economics that looks at particular markets.

Problem 2: The U.S. economic system relies on

Option 1: The private sector to measure its economic well being.

Option 2: Industries that produce capital equipment to determine how well things are going.

Option 3: Frictional unemployment statistics as the sole measure of economic health.

Option 4: Key economic indicators such as GDP, to measure economic progress.