Scarcity is the fundamental problem of the economy.
Answer the following statement true (T) or false (F)
True
You might also like to view...
A firm's foreign direct investment. decisions are, in the case of horizontal FDI, strongly influenced by ________ and, in the case of vertical FDI, strongly influenced by ________
A) trade costs; production costs B) materials costs; labor costs C) production costs; materials costs D) production costs; trade costs E) labor costs; trade costs
Comparing individuals taxes paid in one year with their incomes paid that year is likely to _____
a. overstate the progressive nature of the tax system b. overstate the regressive nature of the tax system c. understate the progressive nature of the tax system d. overstate the regressive nature of the tax system
When a particular resource is commonly used, it tends to get underutilized
a. True b. False Indicate whether the statement is true or false
In the short run, a firm will produce a rate of output where marginal revenue equals marginal cost, even if total revenue is less than total cost, as long as total revenue exceeds total variable cost
Indicate whether the statement is true or false