The actions of a miser benefit ____ and the actions of a philanthropist benefit ____
a. a select few; a wide range of individuals
b. a wide range of individuals; a select few
c. a wide range of individuals; a wide range of individuals
d. a select few; a select few
b
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Suppose that consumers expect that the price of a product will increase in the future. The result is that
A) the current supply of the product decreases. B) the current demand for the product decreases. C) the current demand for the product increases. D) the current supply of the product increases.
In a dual economy, it is generally the case that the majority of the population works in the:
A. market economy. B. international sector. C. traditional (barter) economy. D. manufacturing sector.
Price at which the quantity supplied is equal to the quantity demanded aka market-clearing price
What will be an ideal response?
A public debt which is owed to foreigners can be burdensome because:
A. Foreign interest rates are persistently higher than domestic interest rates B. The payment of interest reduces the volume of goods and services available for domestic uses C. The payment of interest will conflict with a nation's foreign aid programs D. The payment of interest will necessarily have a deflationary effect on prices in the paying nation