The elimination of unexploited profit opportunities requires that ________ market participants be well informed
A) all
B) a few
C) zero
D) many
B
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Which of the following would not be considered money in the hands of the public?
a. cash hidden under a mattress b. a bank's vault cash c. cash in the cash register of a hardware store d. cash stored in the hardware store's vault e. cash in your wallet
A problem(s) with fiscal policy is that
a. it takes a long time for Congress to recognize that an economic problem exists b. interest rates will increase if the money supply increases too rapidly c. trade wars may erupt once tariffs and quotas are implemented d. all
In a perfectly competitive industry, the industry demand curve
A) must be horizontal. B) must be vertical. C) is upward sloping. D) is downward sloping.
Scarcity results from the fact that
A) people's wants exceed the resources available to satisfy them. B) not all goals are desirable. C) we cannot answer the major economic questions. D) choices made in self-interest are not always in the social interest. E) the population keeps growing.