If you are planning to visit wildlife preserves in Kenya, you hope the U.S. dollar appreciates against Kenya's currency
a. True
b. False
A
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The price of a resource declines when:
a. both the demand for and the supply of the resource declines in the same proportion. b. demand remaining constant, supply of the resource declines. c. supply remaining constant, the demand for the resource declines. d. both the demand for and the supply of the resource increases in the same proportion. e. both the demand for and the supply of the resource declines, but supply falls by a greater proportion than demand.
Scarcity is: a. only a problem in modern industrialized economies
b. only a problem in impoverished economies. c. only a problem in centrally planned economies. d. a problem that necessitates making choices and tradeoffs.
On average, persons with more education tend to draw Social Security benefits for a
a. longer period of time than average b. shorter period of time than average c. period of time that is comparable to the U.S. average d. longer period of time if they have a master's degree but a shorter period of time if they have a Ph.D.
Elected government officials seem biased toward favoring
A) the national interest. B) the global interest. C) well organized, special interest groups. D) policies that are in the long-run interest of economists.