The degree to which people have access to goods and services that make their lives easier, healthier, safer, and more enjoyable is called the:
A. scarcity standard
B. microeconomic standard
C. standard of living.
D. global standard
Answer: C
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Consider the demand curves for soft drinks shown in the figure above. Initially the economy is at point a. If people come to expect that the price of a soft drink will increase in the future, there will be a movement to a point such as
A) none of the points illustrated. B) b. C) c. D) d.
Which of these activities will most likely impose an external cost?
a. Betty plants flowers in her garden. b. Bonnie gets a flu vaccine. c. Bridget drives her car after having too much alcohol to drink. d. Becky buys a new flat screen television.
Positive economic principles are those that:
A. predict how people will behave. B. are influenced by political ideology. C. are always correct. D. indicate how people should behave.
The value of the SDR is currently based on the ________.
A) euro B) U.S. dollar C) weighted average of four currencies D) weighted average of six currencies