Resources that are ________ tend to be carefully managed to provide profits, which ensures that they will last a long time
A) publicly held
B) privately owned
C) scarce
D) abundant
B
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A study by Edward Prescott found that the ________ marginal tax rates in the United States relative to Europe resulted in a ________ quantity of labor supplied in the United States
A) higher; smaller B) lower; smaller C) lower; larger D) higher; larger
Which of the following statements is most correct if the Fed sees no need to engage in expansionary monetary policy?
A. It will be impossible for the Fed to shrink its balance sheet. B. Eventually, the Fed will shrink its balance sheet by letting securities it holds expire. C. The Fed is likely to increase the size of its balance sheet. D. The Fed will likely shrink its balance sheet rapidly.
Which statement is false?
A. The monopolist's demand and marginal revenue curves are two separate curves. B. The monopolist can sell more output only by lowering price. C. The monopolist produces at the minimum point of its ATC curve. D. None of these statements are false.
Based on the circular flow model, goods and services flow from:
A. households to businesses in product markets. B. businesses to households in product markets. C. households to businesses in factor markets. D. businesses to households in factor markets.