The economic problem refers to
A. not having enough money.
B. the attempt "to secure the greatest amount of pleasure with the least possible outlay".
C. the notion that the wealth of nations depends on that country's ability to produce goods and services.
D. None of the choices are true.
D. None of the choices are true.
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After 1975, the U.S. economy continued to experience high inflation ________
A) mainly because the public expected policymakers to continue their expansionary efforts, and this led to increases in inflation expectations B) most likely of the cost-push kind C) until a very aggressive commitment to anti-inflationary monetary policy helped end this Great Inflation period D) all of the above E) none of the above
In the consumer's NPV decision, the correct value for the interest rate R is
A) the interest rate that could be earned in a savings account when the consumer must borrow to finance the purchase. B) the interest rate that would have to be paid on a loan when the consumer could pay for the purchase with funds in a savings account. C) the interest rate charged for the loan when the consumer must borrow to finance the purchase. D) the prime rate, irrespective of whether when the consumer must borrow to finance the purchase. E) the prime rate plus the rate of inflation as measured by the CPI, irrespective of whether when the consumer must borrow to finance the purchase.
An increase in the interest rate today leading to a decrease in consumption today violates the law of demand
a. True b. False Indicate whether the statement is true or false
A fundamental principle of international trade is that
A. a country could never have lower resource costs than other countries in the production of ALL goods and services. B. a country could never have lower opportunity costs than other countries in the production of ALL goods and services. C. two nations could both have a comparative advantage over each other in production of the same good. D. the world gains from trade because trade allows production of goods and services to move to nations with the lowest resource cost.