Every society faces economic trade-offs. This means
A) some people live better than others do.
B) not everyone can have enough goods to survive.
C) producing more of one good means less of another good can be produced.
D) society's output cannot be made available to all.
Answer: C
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The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400 &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000 &400The marginal benefit of upgrading from a 2.0GHz computer to a 2.5GHz computer is:
A. $400. B. $1,400. C. $1,000. D. $100.
The private sector balance is equal to ________
A) income minus consumption minus net taxes B) income minus consumption minus investment C) saving minus investment D) income minus consumption
The Federal Reserve has estimated that over ______ of all the U.S. currency being printed ends up being used as unofficial legal tender abroad.
A. one-fourth B. one-third C. one-half D. two-thirds
The tightening of credit standards after the Great Recession
A. was more than countered by an opposite trend in regulation, so growth was robust. B. should have been a source of growth but wasn't. C. was a significant reason behind the slowing of economic growth during that period. D. was entirely countered by an opposite trend in regulation, so it was nearly zero.