Scarcity forces us to

a. limit our wants
b. expand our resources
c. produce more than we consume
d. produce whatever we consume
e. choose

E

Economics

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A room heater is a ________

A) club good because it is excludable but non-rival in consumption B) club good because it is non-excludable but rival in consumption C) public good because it is non-excludable and non-rival in consumption D) private good because it is excludable and rival in consumption

Economics

Graphically illustrate (using the WS and PS relations) and explain the effects of an increase in the markup on the equilibrium real wage, the natural rate of unemployment, the natural level of employment, and the natural level of output

What will be an ideal response?

Economics