Scarcity is defined as the condition in which
A) both wants and resources are limited.
B) wants are finite and resources infinite.
C) both wants and resources are infinite.
D) wants are infinite and resources finite.
D
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A firm might prefer to choose a salary system rather than a commission or piece-rate system of compensation when there are concerns about output quality
Indicate whether the statement is true or false
An increase in interest rates might ________ saving because more can be earned in interest income
A) encourage B) discourage C) disallow D) invalidate
Which of the following would cause the investment demand curve to shift?
a. Animal spirits (expectations). b. Technological change. c. Change in business taxes. d. All of these.
If marginal cost is rising,
a. average variable cost must be falling. b. average fixed cost must be rising. c. marginal product must be falling. d. marginal product must be rising.