If society lacks enough resources to satisfy all the desired uses of the resources, this is known as:
A.) Government failure.
B.) Laissez faire.
C.) Scarcity.
D.) Market failure.
C.) Scarcity.
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________ unemployment rises and falls with economic fluctuations
A) Cyclical B) Frictional C) Structural D) Inflationary
A reduction in the rate of inflation is called:
a. deflation. b. disinflation. c. hyperinflation. d. cost-push inflation.
Public goods tend to be undersupplied through the market since it is difficult for potential suppliers to withhold such goods from nonpaying consumers; the government can use taxes to overcome this problem of nonpayment
a. True b. False Indicate whether the statement is true or false
If the Fed buys $5 million in government bonds, how much will the money supply change?
a. It will increase by $5 million. b. It will increase by more than $5 million. c. It will decrease by $5 million. d. It will decrease by more than $5 million.