Which of the following correctly lists the three fundamental economic questions?
a. If to produce? Why to produce? When to produce?
b. If to produce? What to produce? How to produce?
c. Why to produce? What to produce? How to produce?
d. What to produce? How to produce? For whom to produce?
d
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Which one of the following statements is the MOST accurate? By the year 1932, the United States
A) and Canada alone held more than 70 percent of the world's monetary gold. B) and Germany alone held more than 70 percent of the world's monetary gold. C) and Britain alone held more than 70 percent of the world's monetary gold. D) Britain, and France alone held more than 70 percent of the world's monetary gold. E) and France alone held more than 70 percent of the world's monetary gold.
According to real business cycle theorists
a. technology creates unemployment by displacing labor and this can spark the beginning of an economy's downturn b. firms that don't adopt the new, available technology cannot compete with firms that do and end up being driven out of business c. business cycles are inevitable because technological change is inevitable d. technology displaces labor, which reduces labor productivity which causes prices, profit, and GDP to fall e. technology displaces labor, increases labor productivity, and raises prices and profit, which stimulates firms to create even more technology
If a father earns 20% above his generation's average income, his son will most likely earn what percent above his generation's average income? What does this statistic indicate?
Define economic immigrants
What will be an ideal response?