Supply and demand is an economic tool that analyzes the total costs and benefits of alternative policies to different groups, such as producers and consumers.
a. true
b. false
Ans: b. false
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People acting in their own self interest is the basis of the
A) principle of voluntary exchange. B) principle of scarcity. C) real-nominal principle. D) principle of supply and demand.
Above-normal returns on stock investments can be expected by investors who
A) possess insider information. B) are wealthy enough to hold the stock of many different companies in their portfolios. C) are risk seeking. D) concentrate their investments in one or two stocks.
Making international comparisons of purchasing power is:
A. generally a straightforward comparison. B. complicated by trying to define a "typical" consumer. C. only hard when attempting to figure out the true purchasing power of the poor. D. All of these statements are true.
How would we expect the economic growth rates in future years of country A and country B to compare?
A. Country A will have a higher growth rate.
B. Country B will have a higher growth rate.
C. Both countries will grow at about the same rate.
D. There is not enough information to determine the relative growth rates of countries A and B.