Which of the following are scarce?
A) information
B) time for recreation
C) clean air
D) all of the above
D) all of the above
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In the figure above, suppose the original budget line is BD. A rise in the price of a compact disc will
A) rotate the budget line to AD. B) rotate the budget line to CD. C) not move the budget line. D) result in a parallel leftward shift of the budget line.
Under a fixed exchange rate system, a central bank's intervention in the foreign exchange market will not affect the domestic money supply
Indicate whether the statement is true or false
If the government enacts contractionary fiscal policy, it is most likely at which of the following equilibria in the graph shown?
A. A B. B C. C D. D
Given scarce resources, how societies go about deciding what to produce, how to produce it, and for whom to produce best describes
A. the economic problem. B. the fallacy of composition. C. decreasing opportunity costs. D. Ockham's razor.