When quantity demanded exceeds quantity supplied at the current market price, the market has a shortage, and market price will likely rise in the future to eliminate the shortage
a. True
b. False
Indicate whether the statement is true or false
True
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According to your text, disagreements about the relative efficiency of particular projects are usually disagreements about
A) the best way to conserve energy. B) the best way to conserve non-renewable resources of all kinds. C) scientific facts or technical processes. D) the relative value of particular goods to different people. E) who is entitled to make money from one project or another.
An economy's production possibilities curve for a year is drawn assuming: a. a fixed quantity of resources and technology that is changing along the curve. b. an unchanging level of technology and a changing quantity of resources
c. a fixed quantity of available resources and an unchanging level of technology. d. that the productivity of resources increases continually.
Unions
a. do not affect the natural rate of unemployment. b. lower the wages of unionized workers. c. raise the profits of unionized firms. d. lower the wages of workers in industries without unions.
An insurance company is an example of a financial institution that:
A. transfers risk. B. acts as a broker. C. sells derivative securities. D. serves as a depository institution.