The problem of "scarcity" applies
A) only in industrially developed countries because resources are scarce in these countries.
B) only in underdeveloped countries because there are few productive resources in these countries.
C) only in economic systems that are just beginning to develop because specialized resources are scarce.
D) to all economic systems, regardless of their level of development.
D
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What is a black market and how does it influence the market for rental housing if a rent ceiling creates a housing shortage? What determines the level of the black market rent?
What will be an ideal response?
When the rate of interest in the economy falls, there will be
A) an increase in the market price of existing bonds. B) a decrease in the transaction demand for money. C) less investment by businesses. D) an increase in nominal Gross Domestic Product (GDP).
Figure 33-6
?
If Figure 33-6 (a) illustrates the elimination of a recessionary gap, then the economy should move to what point on the curves shown in Figure 33-6 (b)?
A. From e to r B. From g to j C. From r to j D. From r to m
In 2002, the Enron Corporation was accused of falsifying information regarding liabilities on Enron's balance sheets, thereby
A) increasing Enron's assets on the balance sheet. B) reducing Enron's profit on the balance sheet. C) increasing Enron's net worth on the balance sheet. D) reducing Enron's net income on the income statement.