High money prices for scarce goods
A) are one among many possible causes of their scarcity.
B) are the basic cause of their scarcity.
C) are the effect of their scarcity.
D) have nothing to do with their scarcity, because almost all goods are scarce.
C
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When conducting cost-benefit analysis, it is important to ignore previously incurred costs and previously received benefits
Indicate whether the statement is true or false
When you think about investments in capital goods, the one category that is most important and, at least in the long run, yields the highest returns is investment in
a. infrastructure b. raw material extraction c. factories d. education and health e. machinery
A cap-and-trade policy
A. has a set number of permits. B. allows polluters to trade permits. C. caps the total level of pollution allowed. D. all of these answer options are correct.
The conversion of resources into consumer goods or services is called
A) human capital. B) production. C) opportunity cost. D) consumption.