Economics:
a. is a narrowly focused discipline
b. is a broad-ranging, problem-solving discipline.
c. concerns itself only with monetary decisions.
d. says very little about "everyday life."
b
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Well-being can be increased by:
A. policies that help people do business more efficiently. B. technologies that help people share more and better information. C. increasing the availability of accurate information. D. All of these are true.
When a country that imports a particular good imposes a tariff on that good,
a. producer surplus increases and total surplus increases in the market for that good. b. producer surplus increases and total surplus decreases in the market for that good. c. producer surplus decreases and total surplus increases in the market for that good. d. producer surplus decreases and total surplus decreases in the market for that good.
The national debt is ____ of the United States government and ___ of the people who hold it.
A. an asset; an asset B. a liability; a liability C. an asset; a liability D. a liability; an asset
Monetary stimulus is only helpful to an economy:
A. that is experiencing high inflation. B. that is in recession. C. experiencing significant negative externalities. D. with few public goods.