In economic terms, religious and spiritual services are treated as:
a. goods that people desire.
b. resources or inputs
c. marginal benefits.
d. priceless commodities.
a
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According to the circular flow model, expenditures by one person translate:
A. directly into income for someone else. B. indirectly into the value of that person's time. C. indirectly into the household's budget. D. directly into his or her income.
The bowed shape of the indifference curve reflects the consumer's
a. unwillingness to give up a good that he already has in large quantity. b. unwillingness to purchase a good that he already has in large quantity. c. greater willingness to give up a good that he already has in large quantity. d. greater willingness to purchase a good that he already has in large quantity.
Which of the following is not true of minimum wages?
A. They have little effect on highly skilled workers. B. They raise incomes of unskilled laborers who have jobs. C. They prevent some willing workers from getting jobs. D. They decrease wages for unskilled workers.
The weaker economies in the European Union were forced to _____to be eligible to receive bailouts.
A. decrease spending and taxes B. increase spending and taxes C. decrease spending and increase taxes D. increase spending and cut taxes