The problem of scarcity is confronted by:
A) industrialized societies.
B) pre-industrialized societies.
C) societies governed by communist philosophies.
D) all societies.
Ans: D) all societies.
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________ is the process of researching and developing profitable new products and services by financial institutions
A) Financial engineering B) Financial manipulation C) Customer manipulation D) Customer engineering
During the recession phase of the business cycle,
A. Interest rates are usually falling B. Income is usually rising C. Production is usually rising D. Unemployment is usually falling.
When prices fall and the cash balances that you hold in your wallet are worth more allowing you to purchase more with your money, then this explains why the aggregate demand curve is downward sloping. The effect that describes this phenomena is the:
A. Real balances effect B. Foreign trade effect C. Interest rate effect D. Nominal income effect
Other things equal, the monopsonistic employer will pay a:
A. lower wage rate and hire fewer workers than will a purely competitive employer. B. higher wage rate but hire fewer workers than will a purely competitive employer. C. lower wage rate but hire a larger number of workers than will a purely competitive employer. D. higher wage rate and hire a larger number of workers than will a purely competitive employer.