Why is it that all of our wants cannot be satisfied?
A) because of shortages
B) because we cannot seem to decide what we really want
C) because other people try to change your mind about what you want
D) because limited resources mean all the goods we want cannot be obtained
D
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An external cost is:
A. the cost of a warehouse. B. a cost of production in some other market. C. the economic harm that a positive externality imposes on others. D. the economic harm that a negative externality imposes on others.
A transfer payment is a payment
A) made by the government to its current workers. B) associated with items exported to other nations. C) for in-kind services provided to the government. D) for which no services or goods are rendered.
New England shippers faced higher labor costs than English shippers
a. in trade between the Southern colonies and England. b. in trade between the West Indies and England. c. in trade between New England and England. d. in all trade with England.
Economists who propose a constant-money-growth-rate rule often argue that setting the annual growth rate in the money supply equal to the average annual growth rate in Real GDP
A) maintains price level stability over time. B) is a way to raise Real GDP. C) will cause the price level to fall over time. D) a and b E) a, b and c