Scarcity is
A. a permanent human condition relative to the nearly limitless nature of human desires.
B. a situation of shortage after a hurricane.
C. represented by long lines at stores.
D. the same thing as poverty.
Answer: A
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Suppose the Christmas trees market is perfectly competitive. A business owner is currently suffering from a loss of $1,000, the cost of producing and selling an additional Christmas tree is $20, and the current market price is $25. The owner
A) should sell more trees. B) should shut down his business now. C) should advertise in the market. D) is already minimizing his loss.
Compared to the poverty rate for non-Hispanic whites, the poverty rate for Hispanics is almost _______.
Fill in the blank(s) with the appropriate word(s).
If the U.S. interest? rate, adjusted for? people's expectation of? inflation, increases sharply relative to the rest of the? world, then
A) there will be a decrease in the demand for dollars in foreign exchange markets.
B) there will be no change in the demand for dollars in foreign exchange markets but there will be an increase in demand for foreign currency.
C) the dollar will appreciate.
D) the dollar will depreciate.
Long-lived goods used for producing other goods and services are called:
A. consumption goods. B. capital goods. C. value-added goods. D. non-market goods.