Scarcity exists because economies cannot produce enough to meet the perceived desires of all individuals.
Answer the following statement true (T) or false (F)
True
Scarcity exists because what people desire exceeds what they are able to produce.
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Property rights assure people that
A) the government will not confiscate their income or savings. B) the government will provide a minimum standard of living. C) the factors of production and goods are owned jointly by the government and the people. D) economic growth will enhance government involvement in the economy. E) international trade will be limited.
The situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction is known as adverse selection
Indicate whether the statement is true or false
A quarter is an example of commodity money because the metal used to manufacture it has some value
a. True b. False Indicate whether the statement is true or false
As the expected future spot rate moves closer to the spot rate, uncovered interest parity indicates that:
a. interest rates should remain constant. b. interest rates should converge. c. interest rates should diverge. d. The answer depends on whether the expected future spot rate is higher or lower than the spot rate.