A particular good is not scarce when
A) everyone is able to purchase as much of the good as they wish to purchase.
B) it is available in large enough quantities to meet everyone's needs.
C) no one must sacrifice anything to obtain more of the good.
D) there is a surplus of the good.
C
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In the above table, diminishing marginal returns start to occur when the
A) 3rd worker is employed. B) 4th worker is employed. C) 5th worker is employed. D) 6th worker is employed.
If an economy experiences an increase in its capital stock, everything else constant, then at constant world prices, it will
A) produce more of the labor intensive good and less of the capital intensive good. B) produce more of both goods. C) produce the same amount of both goods. D) produce less of the labor intensive good and more of the capital intensive good.
Why is investment spending a highly volatile component?
An individual would suffer lower losses or maybe even gain from an unexpectedly higher inflation rate if
a. she held much currency and on net was a lender. b. she held much currency and on net was a borrower. c. she held little currency and on net was a lender. d. she held little currency and on net was a borrower.