Choices must be made because of scarcity; people do not have enough time or money to get everything they want
a. True
b. False
Indicate whether the statement is true or false
True
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Netflix introduced DVD rentals via US Mail whereby customers do not have to leave their home to rent movies. They also introduced the concept of no-late fees. Netflix has enjoyed strong profits over the last few years
However, what does economic theory tell us should happen to these profits in the long run and why?
Funds are channeled from savers to borrowers indirectly through ________ and directly through ________
A) financial intermediaries; financial markets B) financial markets; financial intermediaries C) main banks; branches D) broker; agents
From 2002 to 2003, personal income rose by $352 billion. If the MPC = 0.9, then personal consumption expenditures rose by
a. $31.68 billion b. $35.2 billion c. $3.52 billion d. $387.2 billion e. $316.8 billion
An outward shift in the demand curve for land will
a. make previously zero-rent land profitable. b. induce people to begin to use land more extensively. c. force reductions in rents. d. be accompanied by a shift in the supply of land.