Even if the population declines, scarcity will still exist
Indicate whether the statement is true or false
TRUE
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Consider the market for camera film. If more people start using digital cameras, which do not require film,
A) the supply curve of film shifts rightward. B) the demand curve for film shifts leftward. C) there is a movement up along the demand curve for film. D) there is a movement down along the demand curve for film. E) neither the demand curve nor the supply curve for film shifts; instead there is a movement along both.
Everything else held constant, when the inflation rate is expected to rise, interest rates will ________; this result has been termed the ________
A) fall; Keynes effect B) fall; Fisher effect C) rise; Keynes effect D) rise; Fisher effect
Since 1962, which of the following federal expenditures, measured as a percentage of GDP, has increased the most?
A) Social Security B) Medicare and Medicaid C) net interest D) defense
Why doesn't the age-earning cycle continuously increase until retirement age?
What will be an ideal response?