Scarcity
What will be an ideal response?
persists because economic wants exceed available resources.
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Under the gold standard,
A. each nation had discretion over its monetary policy. B. trade-deficit nations had less control over their money supply than trade-surplus nations. C. trade-surplus nations had less control over their money supply than trade-deficit nations. D. no nation had control over its domestic monetary policy.
Suppose that the price of capital falls. Does this necessarily imply that the demand for laborwill fall? Explain
What will be an ideal response?
Suppose that on average there are four more car accidents for every extra inch of snowfall in a certain region. If snowfall is graphed on the y axis and car accidents on the x axis, then if we graph this relationship, the slope of the line will be
A. 1/4. B. 1/3. C. 4. D. 3.
Refer to the above table. At a price of $450, there is an
A. excess quantity demanded of 9,000 tablets. B. excess quantity demanded of 6,000 tablets. C. equilibrium. D. excess quantity supplied of 4,000 tablets.