Scarcity is a result of an unfair distribution of income
a. True
b. False
Indicate whether the statement is true or false
False
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If the economy's real GDP doubles in 9 years, we can
A. conclude that its average annual rate of growth is 8%. B. not say anything about the average annual rate of growth. C. conclude that its average annual rate of growth is 4%. D. conclude that its average annual rate of growth is 12%.
Individuals tend to trade because
A) they place different values on their property. B) they expect to gain more than they give u
An increase in the production of capital goods and a reduction in the production of consumer goods would most likely lead to a faster rate of future economic growth
a. True b. False Indicate whether the statement is true or false
What is an "optimal currency area"? Also, discuss the conditions that must be satisfied for an optimal currency area to exist
What will be an ideal response?