Which of the following are the three fundamental economic questions?
a. What to produce, when to produce, and where to produce
b. What time to produce, what place to produce, and how to produce
c. What to produce, when to produce, and for whom to produce
d. What to produce, how to produce, and for whom to produce
d
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There has been a downward trend in the United States since 1980 in the ambient concentrations of
a. sulfur dioxide. b. carbon monoxide. c. lead. d. all of the above.
Suppose the market demand curve for a good passes through the point (quantity demanded = 100, price = $25). If there are five buyers in the market, then
a. the marginal buyer's willingness to pay for the 100th unit of the good is $25. b. the sum of the five buyers' willingness to pay for the 100th unit of the good is $25. c. the average of the five buyers' willingness to pay for the 100th unit of the good is $25. d. all of the five buyers are willing to pay at least $25 for the 100th unit of the good.
Which of the following would make the equilibrium real interest rate decrease and the equilibrium quantity of loanable funds increase?
a. The demand for loanable funds shifts right. b. The demand for loanable funds shifts left c. The supply of loanable funds shifts right. d. The supply of loanable funds shifts left.
Based on the graph showing equilibrium output and price for a monopolist, if a monopolist is producing at Q2, it should ______.
a. reduce output to 0
b. reduce output to Q1
c. increase output to Q3
d. reduce output to QM