Rich and poor people have which of the following in common?
A) Scarcity
B) Economizing behavior
C) Pursuing the plans and projects in which they are interested
D) All of the above.
E) None of the above.
D
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Popular criticism of determining who gets what by means of money prices increases in periods of inflation because
A) inflation hits poor people the hardest. B) people mistakenly assume an increase in money prices makes them worse off. C) the wealthy will eventually acquire everything if inflation continues long enough. D) there is no one who benefits from rising prices.
Which of the following will not shift the demand curve for movie tickets?
a. a change in the cost of babysitting services b. a change in the price of movie tickets c. a change in the quality of television programs d. a change in the income of movie-goers e. a change in the number of consumers
The equation of exchange is an accounting identity, not an economic theory
a. True b. False Indicate whether the statement is true or false
If actual inflation differs from expected inflation, what is the slope of the Phillips curve?
a. It is horizontal in the short and long run. b. It is upward sloping in the short run and vertical in the long run. c. It is vertical in the short run and upward sloping in the long run. d. It is downward sloping in the short run and vertical in the long run.