Your cellular phone contract is due for renewal and the company offers you a new free phone. Since you want to use your new phone, you decide to recycle your old phone. Your action
a. Creates wealth by moving the phone from lower value use to higher value use
b. Destroys wealth since you lose your phone
c. Creates wealth by making you feel richer
d. All of the above
a
Economics
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"Recession" refers to a period when real GDP in the economy
A) declines for at least six months. B) grows rapidly. C) experiences a rise in living standards. D) suffers due to political instability.
Economics
Under a relative concept of poverty, poverty
a. doesn't really exist. b. is higher in rich countries than in poor countries. c. can never be wholly eliminated by public policy. d. declines as technology advances.
Economics