The United States' basic economic problem would be solved if
A. everyone were given $500,000.
B. the population stopped growing.
C. all sickness and disease were wiped out.
D. our wants could be satisfied with available resources.
D. our wants could be satisfied with available resources.
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A Pigouvian subsidy leads to a socially efficient outcome by ________
A) raising individuals' marginal benefit from consumption B) lowering the marginal private cost of production C) raising the marginal external benefit from consumption D) lowering the marginal external cost of production
In the last three decades of the 19th century, the long-run supply track of farm prices
(a) indicates a decline in farm prices due to a slowly increasing demand and a more rapidly increasing supply. (b) indicates a decline in farm prices due to a slowly increasing supply and a more rapidly increasing demand. (c) indicates an increase in farm prices due to a slowly increasing supply and a more rapidly increasing demand. (d) indicates relatively constant prices due to the fact that supply and demand were both increasing at about the same rate.
Workforce quality arguments are very difficult to prove for the period of 1970 to 1990 because during that period SAT scores
a. and graduation rates increased. b. increased and graduation rates decreased. c. and school attendance rates decreased. d. decreased and school attendance rates increased.
Cost-of-living adjustment is a/an ________ in a transfer payment or wage that results in ________ in the price level
a. increase; increase b. increase; decrease c. decrease; increase d. decrease; no change