The economic concept of scarcity refers to the fact that:
A. the United States will always have a battle to fight hunger.
B. resources are often wasted and shortages are often the result.
C. income must be redistributed through taxation in order to address income disparity.
D. limited resources require economies to make choices among production alternatives.
D. limited resources require economies to make choices among production alternatives.
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The uncertainty costs of inflation cause ________ because ________
A) a decrease in investment and slower growth; people focus on the long run and not the short run B) an increase in investment and faster growth; people focus on the short run and not the long run C) a decrease in investment and slower growth; people increase their demand for money D) a decrease in investment and slower growth; people focus on the short run and not the long run E) an increase in investment and faster growth; people decrease their demand for money
The result of the reunification of eastern and western Germany in 1990
A) was a boom in Germany and higher inflation, with no effect on nearby countries. B) was a recession in Germany and lower inflation, with no effect on nearby countries. C) was a boom in Germany and higher inflation, and, with other EMS countries' commitment to fixed exchange rates, a deep recession in nearby countries. D) was a recession in Germany and lower inflation, and, with other EMS countries' commitment to fixed exchange rates, a deep recession in nearby countries. E) was a recession in Germany and lower inflation, causing a boom in nearby countries.
Other things equal, an adverse supply shock would
a. Lower the price level b. decrease real output c. Shift AD left d. Do a. and b. but not c.
What is the monthly interest rate if you are asked to convert a 12 percent annual rate to a monthly rate (calculate to 4 decimal places)?
What will be an ideal response?