31. What is NOT an example of an institution? a. social mores and work habits b.

Question

31. What is NOT an example of an institution? a. social mores and work habits b. the relationship between the citizen and the government c. significant monuments d. laws and regulations e. the type of government 32. Which of the following are the three major categories of resources? a. physical capital, technology, institutions b. land, labor, technology 'c-institutions, human capital, land d. natural resources, physical capital, human capital e. labor, physical capital, technology 37, which of the following is true about the price level and aggregate supply a. The price level influences aggregate supply in both the long run and short run b. The price level infiuences aggregate supply in the long run but not in the short run. c. The price level infiuences aggregate supply in the short run but not in the long run. d. The price level never impacts aggregate supply e. There is no clear relationship between the price level and aggregate supply 2.3 of 3

Explanation / Answer

31. the answer is (C) signifiacant monuments

32. the answer is (B) land , labor , technology. as per classical economics

37. the answer is (C) the price level influences aggregate supply in short run but not in long run because long run Aggregate supply cure is vertical

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