Scarcity is the fundamental problem of the economy
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Over what range of prices does a shortage arise? What happens to the price when there is a shortage?
What will be an ideal response?
In comparison to the U.S., Germany has a relatively low percentage of union membership
a. True b. False Indicate whether the statement is true or false
Discount rate policy is most often
A. lowered when market rates rise. B. used to actively control the money supply. C. the Fed’s primary tool of monetary control. D. passively changed by the Fed to follow market rates.
Suppose three roommates cannot agree on the size of a pizza to order. Domino argues for a medium pizza, Godfather contends a large pizza will be needed, and Little Caesar wants a super-large pizza. Assuming no paradox of voting, majority voting will
result in a decision to order: A. a medium pizza. B. a large pizza. C. a super-large pizza. D. two medium pizzas.