Consider a two-year period where a consumer has an income of $10,000 in year 1 and $8,000 in year 2. The consumer can borrow or lend at a rate of 10 percent. If the consumer decides to save $1,000 in year 1, it means:

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.