Society wants to use its scarce resources efficiently. To achieve this economic goal it must:
A. expand the use of capital goods and reduce the use of labor.
B. have a fixed resource base and fixed technology.
C. have full employment and full production.
D. increase the rental, interest, wage, and profit payments to the factors of production.
Answer: C
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Fiscal policy aims to influence the overall health of the economy through changes in:
a. the money supply. b. government spending and tax rates. c. interest rates. d. international exchange rates. e. All of the above.
If the price elasticity of supply is 0.75, it would imply that a _____
a. a 100 percent increase in price would increase the quantity supplied by 75 percent b. doubling of the price would increase the quantity supplied by 175 percent c. 50 percent increase in price would increase the quantity supplied by 25 percent d. 75 percent increase in price would increase the quantity supplied by 100 percent e. 120 percent increase in price would increase the quantity supplied by 90 percent
Experimental evidence indicates women choose less competitive environments than men
a. True b. False Indicate whether the statement is true or false
The quantity demanded of a good
a. is the amount that would be purchased with an unlimited income b. is the amount that would be demanded even if income were zero c. is subject to the buyer's income constraints d. is a fixed amount unaffected by the buyer's circumstances e. must match the amount actually purchased in the market