Societies must address the question of WHAT to produce because:
A.) We can't produce all the goods and services we want.
B.) The amount of money in an economy is limited.
C.) We are wasteful and use resources inefficiently.
D.) Our economy experiences market failures.
A.) We can't produce all the goods and services we want.
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For procurement of conventional products like hammers and shovels, the most appropriate type of contract is ______
a. fixed fee b. cost plus fixed fee c. cost plus percentage fee d. cost plus incentive fee
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, the change in producer surplus brought about by the introduction of a tariff is:
A. an increase of HIJKL. B. a loss of HIJKL. C. an increase of H. D. a loss of H.
One of the main reasons some central banks set target inflation rates is to ______.
a. increase productivity b. simplify fiscal policy c. foster greater price stability d. boost investment from abroad
Even when the Obama administration succeeded with its effort to gain Congressional approval for its stimulus proposals, it still took time for these policies to actually work. The time it took for these policies to work is known as:
A. inside lags. B. outside lags. C. automatic stabilization. D. crowding out.