________ exists because unlimited wants exceed the limited resources available to fulfill those wants
A) Productive efficiency B) Scarcity
C) Economic growth D) The command economy
B
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IBM went to the trouble of adding five separate microchips to its F-series printers to slow them down and sell them as E-series printers for a lower price
How could any firm justify adding extra costs to production for a good that will carry a lower price tag?
The above figure shows the market for rice in Japan. S2 represents the domestic supply curve, and S1 represents the world supply curve. Suppose a free market exists
If a $1 per unit tariff is imposed on imported rice, the quantity of imported rice will decrease by A) 10 units. B) 20 units. C) 30 units. D) 40 units.
Exhibit 6A-3 Consumer equilibrium
?
Given the budget line and indifference curves shown in Exhibit 6A-3, point V is:
A. inferior to point X. B. lowest attainable level of total utility. C. unobtainable. D. consumer equilibrium.
Depreciation is included in GDP, but excluded from NNP.
Answer the following statement true (T) or false (F)