Due to a scarcity of resources,
a. governments should decide what should be produced
b. the government must decide how to allocate available resources
c. some members of each society must live in poverty
d. every society must choose among competing uses of available resources
e. resource availability exceeds the possible uses for available resources
D
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Countries where investment is relatively
A) productive should be net exporters of currently available output. B) unproductive should be net importers of currently available output. C) unproductive should be net exporters of currently available output. D) unproductive should be net exporters of future available output. E) unproductive should focus on their internal balance.
When two single-product firms that produce complimentary products merge into a single firm, that firm will want to raise prices of the two products
Indicate whether the statement is true or false
If the supply of good A is perfectly elastic, a decrease in demand will: a. reduce the equilibrium quantity traded, but leave the price unchanged. b. reduce the equilibrium quantity traded, and reduce the price
c. reduce the equilibrium price, but leave the quantity traded unchanged. d. reduce the equilibrium price traded, but increase the quantity traded.
Addressing the natural rate of unemployment is
a. straightforward in theory but difficult in practice. b. straightforward in theory and in practice. c. difficult in theory and in practice. d. straightforward in practice but difficult in theory.