Most countries use production methods designed to ______ their scarce resources.
a. exhaust
b. conserve
c. use more of
d. rely completely on
b. conserve
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The Consumer Price Index market basket contains
A) the goods and services that the economists working for the BLS believes consumers should buy. B) the U.S.-produced goods and services purchased by an average urban household. C) the minimal dietary requirements of an average urban household. D) the goods and services purchased by an average urban household. E) the ideal calorie intake of each member of an average urban household.
Because each oligopolist cares about its own profit rather than the collective profit of all the oligopolists together,
a. they are unable to maintain the same degree of monopoly power enjoyed by a monopolist. b. each firm's profit always ends up being zero. c. society is worse off as a result. d. Both a and c are correct.
There is an opportunity cost associated with
A. only investments made with borrowed funds. B. only investments made with funds received from the sale of new bonds. C. only investments made with retained earnings. D. every investment project, no matter how it is funded.
The rising demand for health-care industry workers is due to the following factors, except:
A. Aging of the U.S. population B. Rising income levels in the U.S. C. Continued presence of health insurance for U.S. consumers D. Decreasing prices of labor in the health-care industry