Scarcity can best be defined as a situation in which
A. consumers look for bargains.
B. some producers are selfish with resources.
C. people respond to incentives.
D. all wants cannot be satisfied due to resource constraints.
D. all wants cannot be satisfied due to resource constraints.
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If the demand curve shifts outward and the supply curve remains the same, price will fall.
Answer the following statement true (T) or false (F)
Which of the following statements is FALSE?
A. An increase in income causes the demand curve for an inferior good to shift to the right. B. An increase in income causes an increase in the demand for a normal good. C. An increase in income causes a decrease in the demand for an inferior good. D. A decrease in income causes the demand curve for a normal good to shift to the left.
Official figures indicate that the percentage of persons below the poverty level in the U.S. is more today than it was in 1959
a. True b. False Indicate whether the statement is true or false
Financial intermediaries in the financial system acquire funds from ________ and lend funds to ________.
a) savers; other savers b) savers; borrowers c) borrowers; savers d) borrowers; other borrowers