According to the text, economics is the study of how:
A. scarce resources are allocated between capitalists and workers.
B. governments allocate resources in the face of constraints.
C. government policies can be used to meet individuals' wants and desires.
D. human beings coordinate their wants and desires.
Answer: D
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Which of the following would have the greatest positive impact on a country's domestic economy?
A) An increase in spending on imports from other countries. B) An increase in spending by foreigners on the country's exports. C) A decrease in the confidence of foreign investors in the country's economy. D) A decrease in the incomes of consumers in foreign countries.
List the three possible ways the government can make adjustments, and the three possible ways the private sector can make adjustments, to an increase in the government's budget deficit
What will be an ideal response?
Which of the following is the primary issue in the tragedy of the commons?
a. Overharvesting common resources b. Selling too many common resources c. Running out of natural resources d. Lacking funds to protect natural resources
The optimal consumption bundle of two goods is found at the point of tangency of the highest indifference curve and the budget constraint
a. True b. False Indicate whether the statement is true or false