If you buy a book of U.S. postage stamps to use to mail love letters to your sweetheart, the purchase is considered part of
a. C
b. I
c. G
d. X
e. M
A
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Assume a factory that currently employs 25 workers and owns a factory with 10,000 square feet of floor space is considering doubling the size of its factory. Economists would classify this as:
A) a short-run decision. B) a long-run decision. C) neither a short-run nor a long-run decision. D) both a short-run and a long-run decision.
Which of the following results from the market system of resource allocation?
a. Equitable distribution of resources b. High opportunity cost of production c. Excess supply of goods and services resulting in decreased profits d. Unequal distribution of income and wealth e. Allocation of the goods and services to those who need them the most
What is the percentage of income received by the upper two quintiles on line K?
A federal budget deficit occurs when _____
Fill in the blank(s) with the appropriate word(s).