Economics is a social science that is concerned with:
of productive resources so there is a minimum level of income
b. The best use of scarce resources paid for at the highest level of cost to consumers and businesses
c. The best use of scarce resources to achieve the maximum satisfaction of economic wants
d. Increasing the amount of productive resources so there is maximum output in society
b. The best use of scarce resources paid for at the highest level of cost to consumers and businesses
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An example of direct foreign investment is given by
A) the sale of U.S. government bonds to foreigners. B) the sale of General Motors bonds to foreigners. C) the behavior of multinational corporations such as Ford. D) all of the above.
The difference between actual real GDP and potential GDP
a. decreases as the unemployment rate rises. b. increases as the unemployment rate rises. c. increases as the employment rate rises. d. decreases as the labor force increases.
George is a gift giver and Roger is a gift recipient. George has Roger in his utility function, but Roger does not have George in his utility function. Roger may try to get George to __________________ George's efficient number of gifts to (give)
A) give more gifts to him than B) reduce the number of gifts he receives below C) increase the number of gifts he receives beyond D) a and b E) a and c
The ratification of the project charter requires negotiation between the project manager and project sponsor. In step number two, the project manager is advised to know their ________; or the minimum needed from the negotiation.
a. Benefit/Cost Ratio (BCR) b. Opportunity Cost c. Walk-Away Point d. Payback Period