Answer the following statement true (T) or false (F)
1) Products and services are scarce because resources are scarce.
2) An economy cannot produce at a point outside of its production possibilities curve because
human economic wants are insatiable.
3) An economy cannot produce at a point outside of its production possibilities curve because
human economic wants are insatiable.
4) The present choice of position on the production possibilities curve will not influence the future
location of the curve.
1) T
2) F
3) T
4) F
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According to a behavioral economist, people who are unwilling to sell the last pound of rice they purchased for the same price that they paid for it are displaying ________
A) the endowment effect B) bounded rationality C) bounded self-interest D) bounded will power
Foreign portfolio investment occurs when an individual or firm buys stock or bonds issued in another country
Indicate whether the statement is true or false
During World War II, the Fed in effect relinquished its control of monetary policy through its policy of
A) continually lowering reserve requirements. B) continually raising reserve requirements. C) pegging interest rates. D) targeting free reserves.
An increase in demand for housing will reduce the availability of land for cultivation
a. True b. False Indicate whether the statement is true or false