Individuals are forced to make choices because
A. human wants are limited.
B. the supply of resources is infinite.
C. wants are unlimited and resources are scarce.
D. resources are unlimited.
C. wants are unlimited and resources are scarce.
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The most important difference between unit excise taxes and ad valorem excise taxes is _____
a. the unit tax will change in response to a change in the price of the taxed good, while the ad valorem tax will not b. the unit tax will not change in response to a change in the price of the taxed good, while the ad valorem tax will c. the unit tax increases in response to a change in the price of the taxed good, while the ad valorem tax will decline d. the unit tax declines in response to a change in the price of the taxed good, while the ad valorem tax will increase
Which of the following is incorrect regarding financial intermediaries? a. They link savers and borrowers
b. They earn profits by loaning money. c. They offer lower interest rates on savings than they charge on loans. d. They print money. e. They accept deposits.
Increased production, but not increased inflation, will result in higher:
a. nominal GDP. b. money GDP. c. real GDP. d. current dollar GDP.
In the last part of the 1800's
a. deflation made it harder for farmers to pay off their debt. b. deflation made it easier for farmers to pay off their debt. c. inflation made it harder for farmers to pay off their debt. d. inflation made it easier for farmers to pay off their debt.