The most essential economic problem is the existence of:
a. both an increasing population and the depletion of natural resources.
b. both limited economic resources and unlimited desires
c. both inflation and unemployment.
d. income inequality and economic freedom.
b
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The Fed first announced an inflation target of 2% in
A) 1979. B) 2005. C) 2012. D) 2015.
Keynesian economics focused on
A. equally at curing recessions and inflations. B. mainly at curing inflations. C. mainly at curing recessions. D. curing hyperinflation.
Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive.
If S3 is the market supply curve, then each firm in this market will earn an economic loss of ________ per week.
A. $3,000 B. $1,000 C. $1,500 D. $2,000
Individual supply curves generally slope ________ because ________.
A. downward; inputs are cheaper when purchased in high volume. B. upward; of increasing opportunity costs. C. downward; sellers become more efficient with practice. D. upward; profits increase with quantity.