__________ are what is available to be used. They produce valued results. They are assets used to satisfy some need
a. Resources
b. Goals
c. Values
d. Attitudes
A
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The central problem all individuals face is
A) greed. B) insufficient money income. C) scarcity of resources. D) the desire for present enjoyment. E) unequal wealth.
In the mid-1830s, the U.S. entered an inflationary period that culminated in the depression of 1839-1843 . Contemporary economic historians attribute this economic downturn to
a. the demise of the Second Bank of the U.S. in 1832. b. over-issue of gold coins by the U.S. Mint. c. over-expansion by the manufacturing sector. d. external forces, including large inflows of specie from Mexico and Europe.
Suppose a state has the following individual income tax structure.The first $20,000 that an individual earns is taxed at 5%. The next $30,000 is taxed at 10%. Any income exceeding $50,000 is taxed at 20%.Based on this tax structure, if a person's income is equal to $60,000 . his average tax rate is equal to:
a. 15% b. 10% c. 11.67% d. 20%
If the equilibrium quantity of a good is also the socially optimal quantity, then:
A. the marginal cost to producers of another unit of the good is zero. B. it's possible to make at least one person better off without hurting anyone else. C. the marginal benefit to consumers of another unit of the good is zero. D. total economic surplus has been maximized.