A rational decision is one that
A. satisfies all desires.
B. avoids the intentional allocation of resources.
C. assigns available resources in the manner most preferred by decision makers.
D. assigns available resources to the uses with the lowest opportunity costs.
Answer: C
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The table above lists the market shares of the twenty makers of personal computers. Based upon the Herfindahl-Hirschman Index for this industry, the Justice Department would
A) regard the industry as highly concentrated. B) be against any two firms merging. C) consider the market oligopolistic. D) regard the industry as competitive.
What is the difference between defensive and dynamic open market operations?
What will be an ideal response?
Real GDP per person in Richland is $20,000, while real GDP per person in Poorland is $10,000. However, Richland's real GDP per person is growing at 1 percent per year, and Poorland's real GDP per person is growing at 3 percent per year. After 50 years, real GDP per person in Richland minus real GDP in Poorland is:
A. positive but less than $10,000. B. zero. C. negative. D. positive and greater than $10,000.
Which is true?
a. China implemented a one child/one family policy in order to limit population growth. Country leaders realized that the country's resources would not be sufficient for a growing population b. when a country's population rises faster than its output of goods and services the average citizen will be worse off c. economists believe that the best method that a country can employ to reduce population growth is to provide women with more educational and career opportunities d. all