Economics
A. started as a business application.
B. can never be defined.
C. is the study of unlimited wants but limited resources.
D. has no "real world" relevance.
C. is the study of unlimited wants but limited resources.
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When the government's expenditures exceed its tax revenues, the budget
A) has a deficit and the national debt is increasing. B) has a surplus and the national debt is increasing. C) is balanced and the national debt is increasing. D) has a deficit and the national debt is decreasing. E) None of the above because by law the government's expenditures cannot exceed its tax revenue.
Which of the following explains why many European countries have unemployment rates that are higher than in the United States?
A) Technological change occurs at a faster rate in Europe, so structural unemployment is higher in Europe. B) European countries offer higher unemployment benefits than the United States. C) The minimum wage in Europe is lower than it is in the United States. D) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States.
Why might it be in the direct economic interest of the United States to finance rain forest conservation programs in the Amazon?
What will be an ideal response?
Which does NOT belong in GDP?
A. Salaries for government employees B. Tractors purchased by a farmer C. New trays purchased by a company for use in the cafeteria D. Police salaries in Toledo, Ohio