Which one of the following is NOT a key trade-off a society faces?
A) Who gets the goods and services
B) Who produces the goods and services
C) Which goods and services to produce
D) How to produce
B
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The most people live in ________ economies, and the fewest people live in ________ economies
A) developing; emerging market B) advanced; emerging market C) advanced; developing D) emerging market; developing E) developing; advanced
The function of the interest rate in the Classical model was to keep the economy at full employment equilibrium by assuring that
A) actual saving equaled actual investment. B) actual saving equaled desired investment. C) desired saving equaled desired investment. D) desired saving equaled actual investment.
The Rhode Island System
a. employed whole families to work in textile mills. b. employed young women in their late teens and early twenties. c. banned the use of child workers in factories. d. relied on a workforce mainly consisting of former slaves.
Which of the following statements is consistent with the law of supply?
a. An increase in the quantity supplied of buns will result in a decrease in the price of buns. b. An increase in the quantity supplied of buns will result in an increase in the price of buns. c. An increase in the price of buns will result in a decrease in the quantity supplied of buns. d. An increase in the price of buns will result in an increase in the quantity supplied of buns.