Even though households may have unlimited wants, they have to allocate their spending carefully because they
a. do not want their credit card bills to be too high
b. worry about their taxes
c. have limited intelligence
d. have limited incomes
e. basically want to become wealthy
D
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List the four broad categories of factors of production
What will be an ideal response?
In the IS-LM model, equilibrium income can be affected by
A) fiscal policy alone. B) monetary policy alone. C) both fiscal and monetary policy. D) neither monetary nor fiscal policy.
Negative externality describes costs that include both the private costs incurred by firms and also the costs incurred by third parties outside the production process
a. True b. False Indicate whether the statement is true or false
An increase in which of the following would be most likely to increase long-run economic growth?
a) taxes b) interest rates c) consumer spending d) productivity e) value of domestic currency