Which of the following is a possible government objective?
a) High borrowing costs
b) Low income per person
c) Lower employment
d) Lower inflation
Ans: d) Lower inflatio
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Individuals face scarcity; whole societies do not.
Answer the following statement true (T) or false (F)
The cost of using a good for some specific period of time is called the ________ of the good
A) issue price B) rental price C) auction price D) market price
Collective decision making
What will be an ideal response?
Supply curves slope upward because:
A. the quality is assumed to vary with price. B. technology improves over time, increasing the ability of firms to produce more at each possible price. C. increases in the price of a good lead to rightward shifts of the supply curve. D. rising prides provide producers with the incentives needed to increase the quantity supplied.