Economists believe that scarcity forces everyone to:
a. satisfy all their wants.
b. abandon consumer sovereignty.
c. lie about their wants.
d. create unlimited resources.
e. make choices.
e
You might also like to view...
The relationship between the level of prices and the quantity of real GDP supplied is known as
A) aggregate supply. B) aggregate demand. C) market demand. D) market supply.
Nathan drinks three cups of coffee per day. The marginal benefit that he enjoys from drinking the third cup is
A) less than the marginal benefit that he receives from drinking the second cu
The increased stability of the financial system in the United States since 1950 can help explain
A) why the United States has only experienced one recession since 1950. B) the severity of the 2007-2009 recession. C) the increase in the gap between potential GDP and real GDP. D) the decrease in severity of business cycle fluctuations.
Making blackmail, extortion, and other forms of private coercion illegal is one way that government:
A. Reduces private-sector economic risk B. Increases private-sector economic risk C. Reduces the market's economic efficiency D. Increases the economy's deadweight losses