Scarcity implies that
A. firms should be more efficient when producing goods.
B. people must make choices.
C. nonrenewable resources should never be used.
D. people should limit their wants, since shortages exist.
Answer: B
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Whom does the Bureau of Labor Statistics include in the discouraged worker category?
a. those who are neither disabled, employed nor seeking employment b. labor force members who have chosen early retirement because they dislike their work or think the pay is too low c. people who tried unsuccessfully to find a job and aren't searching for a job any longer d. members of the labor force who are looking for a job but cannot find one e. anyone in the population who is not working
Roughly 144 million people in the United States hold jobs
a. True b. False Indicate whether the statement is true or false
Which of the following statements is correct?
a. In the short run, interest rate differentials have the greatest impact on exchange rates. b. In the medium run, differences in growth rates of aggregate demand have the greatest impact on exchange rates. c. In the long run, price and inflation differentials have the greatest impact on exchange rates. d. All of the above are correct.
An open market sale by the Fed will
A) increase bank reserves. B) increase currency held by the public or vault cash. C) increase the money supply. D) reduce the money supply.