Economics deals with
A. how society allocates unlimited resources.
B. how individuals allocate scarce resources to satisfy unlimited human wants.
C. how to profit from the stock market.
D. how to satisfy limited human wants.
Answer: B
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Compare the growth rates in Hong Kong, Korea, Singapore, Taiwan, China, and the United States. In terms of real GDP per person, how far is China behind these others?
What will be an ideal response?
What is a normal rate of return?
What will be an ideal response?
Since the 1980s the proportion of income received by the top 5 percent of Americans has ____, and the measured income of Americans in the lowest fifth has ____
a. risen; risen b. risen; fallen c. fallen; risen d. fallen; fallen
Which of the following events could decrease the demand for labor?
a. An increase in the number of migrant workers b. An increase in the marginal productivity of workers c. A decrease in demand for the final product produced by labor d. A decrease in the supply of labor