A trade-off occurs when some quantity of production or consumption of a good or service is given up in order to produce or consume another good or service.
a. true
b. false
a. true
Economics
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An imperfection in the market mechanism that prevents optimal outcomes is called
A. Price leadership. B. Collusion. C. Antitrust behavior. D. Market failure.
Economics
Fiscal policy used to close an expansionary gap is known as _____
Fill in the blank(s) with the appropriate word(s).
Economics
Refer to the figure below. 
If Column Cruises offers reduced rates, and Row Resorts keeps its rates high, then Row Resorts will earn ________, and Column Cruises will earn ________.
A. 10; 500 B. 500; 10 C. 300; 300 D. 50; 50
Economics
As income rises, the share of income spent on food in the United States
A) falls. B) remains constant at 15 percent. C) remains constant at 33 percent. D) rises.
Economics