The secondary effects of an economic action refer to the
A) impact on the availability of a resource needed to produce a good or service.
B) the unintended consequences of a change that are not immediately identifiable but are felt over time.
C) best alternative that must be forgone as the result of a choice.
D) immediate and visible intended consequences of a change.
B) the unintended consequences of a change that are not immediately identifiable but are felt over time.
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Economic growth is defined as
A) an increase in the nation's population. B) a sustained expansion of production possibilities. C) an increase in the wage rate. D) a decrease in the rate of inflation. E) an increase in employment.
Voting in large elections is irrational unless people get something like a "warm glow" from having voted.
Answer the following statement true (T) or false (F)
Which of the following is not an indicator that is used to compute the Human Development Index?
a. life expectancy at birth. b. real GDP per capita. c. infant mortality rate. d. adult literacy rate.
Use national demand and supply curves to show (a) the incentives for trade to begin between nations. (b) the effect on the likely pattern of trade of a change in technology in A that causes A's national supply curve to shift out
(c) the effect on the likely pattern of trade of a change in tastes in B in favor of good S.