Scarcity is
A) a shortage of goods and services.
B) poverty and misery.
C) a situation in which the resources for producing the goods and services that people desire are sufficient to satisfy people's desires.
D) a situation in which the resources required to produce the goods and services that people desire are insufficient to satisfy all wants.
Answer: D
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A rent ceiling set below the equilibrium rent will
A) increase search activity. B) decrease search activity. C) have no effect on search activity. D) shift the housing supply curve rightward.
As Regulation Q was repealed, most of the assets of savings-and-loans were in the form of
A) business loans. B) consumer loans. C) mortgages. D) savings deposits.
The present discounted value of a future payment will increase when the
A. Risk of nonpayment increases. B. Future payment is moved further into the future. C. Opportunity cost of money increases. D. Interest rate decreases.
Why might trade barriers be a highly ineffective technique for increasing domestic employment?
What will be an ideal response?