The 3 key economic questions include all of the following except:
A. "what products do we produce?"
B. "how do we produce these products?"
C. "where should these products be produced?"
D. "who consumes the products?"
Answer: C
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What are two ways that a government or group can ensure that the economic pie is maximized when the volunteer's dilemma arises?
What will be an ideal response?
Since 1999, the U.S. ________ account has recorded relatively minor transactions, such as migrants' transfers, and sales and purchases of nonproduced, nonfinancial assets
A) capital B) financial C) current D) balance of trade account
Refer to Figure 19-7. If the Indian government pegs its currency to the dollar at a value below $.02/rupee, we would say the currency is
A) parity valued. B) overvalued. C) undervalued. D) equilibrium valued.
According to Chandler and Cortada (2000), the driving force of the U.S. economy has been what since the beginning?
(a) Agriculture (b) Manufacturing (c) Information (d) Steel and automobiles