The one word in the definition of economics that focuses on the fact that we have to make choices about who gets what and how much is
A. scarcity.
B. allocation.
C. study.
D. resources.
Answer: B
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Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. Kevin will train how many clients per day?
A) 4 B) 6 C) 10 D) between 2 and 4 E) None of the above answers is correct.
The real rate of interest equals the
a. money rate of interest minus the expected inflation rate. b. money rate of interest plus the expected inflation rate. c. inflationary premium. d. nominal rate of interest.
If Dave and Jesse are the only two fishermen in town and neither is bothered by the other's fishing, the lake they fish in is not a common resource
a. True b. False Indicate whether the statement is true or false
If a fiscal policy program requires new legislation to make it happen, it is
A. discretionary. B. contractionary. C. unconstitutional. D. non-discretionary.