The question "Should more capital goods be produced instead of consumer goods?" is an example of which fundamental economic question?
A. The What to Produce question.
B. The Why to Produce question.
C. The How to Produce question.
D. The For Whom to Produce question.
Answer: A
You might also like to view...
If information about the total cost is not given for every possible 1 unit change in quantity, marginal cost can still be computed as
a. the price of labor divided by the quantity of labor. b. the price of labor divided by the marginal product of labor. c. fixed cost divided by the marginal product of labor. d. variable cost divided by the marginal product of labor.
When $1 million is deposited at a bank, the required reserve ratio is 20 percent, and the bank chooses not to hold any excess reserves but makes loans instead, then, in the bank's final balance sheet
A) the assets at the bank increase by $800,000. B) the liabilities of the bank increase by $1,000,000. C) the liabilities of the bank increase by $800,000. D) reserves increase by $160,000.
Suppose a country, whose production and consumption of coffee is large relative to the world market, has just entered the global market. If the country is a net exporter of coffee, we would expect the world:
A. supply curve to shift more to the right than the world demand curve as a result. B. supply curve to shift more to the left than the world demand curve as a result. C. demand curve to shift more to the right than the world supply curve as a result. D. demand curve to shift more to the left than the world supply curve as a result.
What was the official poverty level for a person living alone in 2012?
a. 10,900 b. 11,170 c. 18,850 d. 23,050