Which of the following is a characteristic of economics?
A) allocation of limited resources in an effort to satisfy potentially unlimited wants
B) the focus on how people behave not in their own self-interest
C) the way society deals with people's needs
D) all of the above
Answer: A
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How does a decrease in the demand for wheat ultimately lead to normal profits for wheat growers in the long run?
What will be an ideal response?
When institutional money managers use their computers to decide on large sales or purchases in the stock market, they are employing
A. the herd instinct. B. the bandwagon effect. C. program trading. D. stock watering.
Compared to those with less economic freedom, countries with more economic freedom generally have ____ per capita GDP levels and ____ growth rates.
What will be an ideal response?
Actual reserves minus required reserves equals
A. the required reserve ratio. B. actual reserves. C. vault cash plus deposits at Fed District Banks. D. excess reserves.