Scarcity impels an individual to make choices
a. True
b. False
Indicate whether the statement is true or false
True
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The upward slope of the short-run aggregate supply curve is based on the assumption that ________.
A. prices of inputs are flexible while prices of outputs are fixed B. wages and other resource prices do respond to price level changes C. prices of output do not respond to price level changes D. wages and other resource prices do not respond to price level changes
The most direct way in which money eliminates the need for a double coincidence of wants is through its use as a
A) medium of exchange. B) standard of deferred payment. C) store of value. D) unit of account.
Natural gas prices in real terms have
a. increased sharply since 2008. b. closely followed the pattern of oil prices since 2008. c. risen dramatically during the past ten years. d. fallen sharply since 2008.
An initial public offering
A. Increases the percentage of the company owned by the management and original entrepreneurs. B. Indicates the demand for a company's new product. C. Allows a company to raise money without increasing debt. D. Allows a company to borrow funds for investment and growth.