Which of the following is not one of the three core economic issues that must be resolved?
A. Who should get the goods and services we produce.
B. What to produce with limited resources.
C. How to produce the goods and services we select.
D. What to produce with unlimited resources.
Answer: D
You might also like to view...
In the two-country model of international labor mobility
A) the effect of migration is to cause real wages in the two countries to converge. B) the effect of migration is to cause real wages in the two countries to diverge. C) labor has only limited international mobility. D) the long-run equilibrium global real wage is equal to the lesser of the pre-migration wages in the two countries. E) the long-run equilibrium global real wage is equal to the greater of the pre-migration wages in the two countries.
When the real wage is below the equilibrium price in the labor market ________
A) we have an excess supply of labor and the real wage should fall B) we have an excess demand of labor and the real wage should fall C) we have an excess demand of labor and the real wage should increase D) we have an excess supply of labor and the real wage should increase E) none of the above
A bank currently has demand deposits of $100,000 . reserves of $30,000 . and loans of $70,000 . If the legal reserve requirement is lowered from 20 percent to 15 percent, this bank can increase its loans by
a. $10,000 b. $15,000 c. $75,000 d. $5,000 e. $ 0
Which one of the following is the best description of a monopolist?
a. a firm that produces a single product b. a firm that is the sole producer of a narrowly defined product class, such as yellow, grade-A butter produced in Wisconsin c. a firm that is the sole producer of a product for which there are no good substitutes in a market with high barriers to entry d. a firm that is large relative to its competitors