People:
A. often have good enough information to make acceptable choices.
B. always have enough information to make acceptable choices.
C. always have access to complete information.
D. never have access to complete information.
A. often have good enough information to make acceptable choices.
You might also like to view...
Which is not a characteristic of a good economic model?
A. Focuses on important details B. Predicts cause and effect C. Utilizes vague assumptions D. Describes the world accurately
Which of the following would be consistent with a decline in labor productivity?
a. Faster growth in capital formation b. Enhanced worker quality c. Decreased manufacturing production d. High federal government budget surpluses
In 2007 a company sold 35,000 drones at $150 each. In 2008 the same company sold 40,000 drones at $170 each. This information suggests that
A. The supply of drones increased from 2007 to 2008. B. The price of drones increased because the costs of production increased from 2007 to 2008. C. The demand for drones increased from 2007 to 2008. D. From 2007 to 2008, the demand curve for drones was upward-sloping because of improved technology.
According to the theory of comparative advantage, a country
A. exports goods in which it has absolute advantage. B. imports the goods in which it has a comparative advantage. C. imposes tariffs on goods in which it does not have comparative advantage. D. exports the goods in which its has a comparative advantage.