The current world population is more than ________
A) 6 million
B) 6 billion
C) 6 trillion
D) 6 gazillion
B
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Scarcity is the fundamental problem of the economy.
Answer the following statement true (T) or false (F)
A shift in tastes toward foreign goods ________ net exports in the U.S. and causes the IS curve to shift to the ________ in the U.S., everything else held constant
A) decreases; right B) decreases; left C) increases; right D) increases; left
Linking policy instruments to target variables are the
A) indices of economic welfare. B) structural economic relations. C) exogenous nonpolicy variables. D) irrelevant side effects.
A level of insurance is said to be actuarially fair when in which of the following situations?
a. Premiums that someone pays are less than the amount that an average person in that risk group would collect in insurance payments. b. Everyone in a risk group pays the same amount regardless of insurance payments collected. c. Premiums that someone pays are equal to the amount that an average person in that risk group would collect in insurance payments. d. Everyone in a risk group pays more than the average person in that risk group would collect in insurance payments.