One of the fundamental problems in economics is how to deal with ________.
a. limited resources but practically unlimited economic desires
b. limited resources and limited desires
c. unlimited resources and limited desires
d. unlimited resources and unlimited desires
Ans: a. limited resources but practically unlimited economic desires
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Liquidity is the same as
A) easy conversion of money to an asset, allowing for loss of value. B) diversification of an investor's store of value. C) easy conversion of an asset to a means of payment, allowing for loss of value. D) easy conversion of an asset to a means of payment, with little or no loss of value.
The above figure depicts the market for video games. If the government imposed a $3 per game tax on sellers, what would be tax revenue?
A) less than $18 B) $18 C) more than $18 D) More information is needed to determine if the tax revenue is more than, less than, or equal to $18.
How can an incomplete contract prevent opportunism? Explain with an example
A person's willingness to work depends on whether the labor market is competitive or monopsonistic
Indicate whether the statement is true or false