Economics studies how decision makers use scarce resources to satisfy unlimited wants
a. True
b. False
A
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Refer to Table 2-5. What is Finland's opportunity cost of producing one board foot of lumber?
A) 0.25 cell phones B) 4 cell phones C) 12 cell phones D) 16 cell phones
Which of the following is (are) correct? In the classical system, the suppliers of bonds were the
a. government which always sold bonds to finance a new project. b. firms which financed all investment expenditures by selling bonds. c. government which might sell bonds to finance spending in excess of tax revenues. d. Both b and c.
Inflation over time necessarily makes consumers worse off
Indicate whether the statement is true or false
Funds held in bank accounts that can be withdrawn by depositors at any time without advance notice are called:
A. demand deposits. B. required reserves. C. free funds. D. flow funds.