The central question in economics is how to
A. make the best use of scarce resources.
B. use government planning agencies.
C. induce people to want less.
D. increase human knowledge.
Answer: A
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An increase in the reserve requirement will lead to increased net exports
Indicate whether the statement is true or false
Over a decade or longer, a government budget deficit
A) reduces national saving and stimulates economic growth. B) reduces national saving and economic growth. C) increases national saving and economic growth. D) increases national saving and decreases economic growth.
A government balanced budget is
A) an excess of government spending over government revenues during a given time period. B) a situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given time period. C) the total value of all outstanding federal government securities. D) all federal government debt irrespective of who owns it.
The problem of "double marginalization" is
a. The retail price being too low due to an absence of both manufacturer and retailer markup b. The retail price being too high due to the existence of both manufacturer and retailer markup c. The retail price consisting only of the manufacturer markup d. The retail price consisting only of the retailer markup