When resources are ____, increasing the production of one good causes a decrease in the production of the other.
Fill in the blank(s) with the appropriate word(s)
Answer: Scarce
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The distinction between public health problems and private health problems becomes blurred when _____
a. externalities are positive b. preferences are quasi-linear c. health insurance is unavailable d. health care spending is from public coffers
Suppose the star pitcher on a university's baseball team, who is now a sophomore, decides to finish college instead of joining a major league team. In doing this, he is giving up a $40,000 salary for each of the next two years. At an interest rate of 10 percent, the total value of this sacrifice is approximately
a. $46,000 b. $77,777 c. $69,420 d. $80,000 e. $88,000
Refer to the above payoff matrix for the profits (in $ millions) of two firms (A and B) making a decision to advertise or not. Which of the following is the outcome of the dominant strategy without cooperation?
A. Firm A chooses to advertise while firm B chooses not to advertise. B. Firm A chooses not to advertise while firm B chooses to advertise. C. There is no dominant strategy in this scenario. D. Both firm A and firm B choose to advertise.
When you take $100 from your saving account and deposit it in your checking account, M2 decreases.
Answer the following statement true (T) or false (F)