The Study of economics is primarily concerned with
A) Keeping private businesses from losing money
B)choices which have to be made concerning the use of scarce resources.
C)determining with most equitable distribution of societies output
D)Demonstrating that capitalistic economies are superior to socialistic economies
B)choices which have to be made concerning the use of scarce resources.
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Some people make purchases without complete information because:
A. they are irrational. B. the benefit of having more information outweighs the opportunity cost of acquiring it. C. the opportunity cost of getting more information outweighs the benefit of having more information. D. No one makes purchases without complete information.
Which of the following statements accurately describes the U.S. economy over the long run?
a. The nation’s long-run aggregate supply curve shifts leftward over time as potential output grows. b. The economy is often at a point where actual and potential real GDP are equal. c. The nation’s potential real GDP at full employment shifts rightward over time. d. The economy often operates along the long-run aggregate supply curve.
As it relates to R&D, the expected-rate-of-return curve, r:
A. usually slopes upward. B. shows the cost of financing various levels of R&D. C. varies in location depending on the location of the interest-rate cost-of-funds curve, i. D. represents the marginal benefit element in the MB = MC decision framework.
Static tax analysis assumes
A) all of the present tax rates will be in place for a minimum of twenty years. B) changes in the tax rates have no effect on the tax base. C) changes in the tax rates have no effect on tax revenue. D) changes in the tax rates will change the tax base.