Which of the following is a result of scarcity?
a. Costs are incurred in making choices.
b. We attempt to utilize our resources as efficiently as possible.
c. We must make choices between production possibilities.
d. We are unable to produce all we would like to produce.
e. All of these.
e
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Which of the following influences people's buying plans and does not shift the demand curve?
A) the price of the good B) the prices of related goods C) income D) preferences
A bond purchaser bought a bond from which she receives $800 a year from the issuer. If the face value of the bond is __________ then the coupon rate is __________.
A. $10,000; 10 percent B. $8,000; 8 percent C. $10,000; 8 percent D. $8,000; 12 percent E. none of the above
Which of the following taxes is based on the benefits-received principle?
a. corporate income taxes b. personal income taxes c. property taxes d. gasoline excise taxes e. user fees that collect the same amount from each person
A good for which the demand falls when income rises
a. demand curve b. income effect c. elastic d. inferior good