Scarcity:
a. ensures that people become satisfied with less than what they want.
b. exists only during a recession.
c. exists only in some countries.
d. affects only poor people.
e. requires people to make choices to satisfy their wants.
e
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Purchasing power parity does a ________ job in explaining movements in nominal exchange rates in the short run and does a ________ job in explaining movements in nominal exchange rates in the long run
A) reasonable; reasonable B) reasonable; poor C) poor; reasonable D) poor; poor
Information supplied to consumers by the government rarely ever helps in making better decisions
a. True b. False Indicate whether the statement is true or false
Which of the following transactions would be included in GDP for 2015?
A. On January 5, 2015, Chris Carter sold 100 shares of stock in IBM Corporation. B. Bonita Delgado purchases a new 2015 Chevrolet on March 10, 2015. C. Nadav Daniel buys a used desk from the “Struggling Students Used Furniture” store on May 9, 2015. D. Levi Lathan purchases a 75-year-old penthouse on Lake Shore Drive in Chicago, Illinois, on June 23, 2015.
Which of the following makes the U.S. market more attractive to foreign buyers?
a. depreciation of the dollar b. contractionary monetary policy by the Fed c. increase in price of U.S. goods d. increase in U.S. interest rates