In every economic system, choices must be made because resources
A. are unlimited, but human desires and wants are limited.
B. are unlimited, and so are human desires and wants.
C. are limited, but human desires and wants are unlimited.
D. are limited, and so are human desires and wants.
Answer: C
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The production possibilities frontier separates ________
A) the goods and services that people want from those that they do not want B) the types of goods that can be attained from those that can't be attained C) the quantities of goods and services that can be produced from those that cannot be produced D) the combinations of goods that people value and those that they don't
What are the main arguments for and against Fed independence?
What will be an ideal response?
A government-imposed price ceiling set below the market's equilibrium price will create an excess demand for a product. As a result of the excess demand, either the demand curve will tend to shift to the left or the supply curve will shift to the right-or both
a. True b. False
A trust is:
A. an agreement among firms to charge the perfectly competitive price. B. a compact between industry and government. C. a creation of the Sherman Act. D. an arrangement between firms whereby decision making is controlled by a board of trustees.