The fundamental economic problem is:
a. poverty
b. unemployment.
c. scarcity.
d. inflation.
c
You might also like to view...
Monetarism is a school of thought put forth by ________, who argued that the economy would most likely be at potential GDP
A) Finn Kydland and Edward Prescott B) Milton Friedman C) Robert Lucas and Thomas Sargent D) Karl Marx
An indication that Insurance companies anticipate adverse selection is
a. they require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment
Government involvement has become so prevalent in the U.S. economy that the U.S. economy is now generally considered to be a socialist economy
a. True b. False Indicate whether the statement is true or false
If the state of Washington's government collects $75 billion in tax revenues in 2013 and total spending in the same year is $74.8 billion, the result will be a:
a. a decrease in the payroll tax b. budget surplus c. an increase in spending d. budget deficit