Which of the following is a result of scarcity?
a. Costs are incurred in making choices.
b. We attempt to utilize our resources as efficiently as possible.
c. We must make choices between production possibilities.
d. We are unable to produce all we would like to produce.
e. All of these.
e
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It has been claimed that foreign governments have attempted to influence votes in the U.S. that would promote policies of protectionism within the U.S
On the surface this appears to be totally illogical and counter intuitive, as this would presumably lessen the possibilities of foreigners' exports to the U.S.
Stagflation is the simultaneous occurrence of inflation and high unemployment
a. True b. False Indicate whether the statement is true or false
If the rate of return is higher than the cost of borrowing the:
A. investor will lose money on net after paying back the loan. B. borrower will make more money on net than the saver. C. saver will make less money on net than the borrower. D. investor will make money on net after paying back the loan.
A monopolist will not be able to receive a positive economic profit at any price-output combination at which
A) marginal cost is less than average total cost when the monopolist has equated marginal revenue and marginal cost. B) the average total cost curve is everywhere above the demand curve. C) marginal cost is less than average variable cost when the monopolist has equated marginal revenue and marginal cost. D) marginal revenue falls at a faster rate than marginal cost increases.