Agreeing to iron your roommates shirts while she types up the paper you have written is an example of which of the following:
a. Barter
b. Opportunity Cost
c. Sunk Cost
d. Absolute Advantage
a
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The primary objective of economics is
A) to learn how to create more resources. B) to study how people make choices with limited resources. C) to learn how to make the most profits with a given amount of resources. D) to study why some people are never happy with the resources they have.
An increase in the amount of money in circulation would cause a
A) shift of the aggregate demand curve to the right. B) shift of the aggregate demand curve to the left. C) movement up the aggregate demand curve. D) movement down the aggregate demand curve.
Which of the following is NOT considered a determinant of income differences?
A) productivity B) age C) discrimination D) equity or fairness
There is substantial evidence that antitrust policy has been effective in identifying and prosecuting price-fixing by businesses.
Answer the following statement true (T) or false (F)