Countries often have to choose between producing military or consumer goods, a trade-off economists call ____________ .
a. export or import.
b. a free market economy.
c. farm goods or factory goods.
d. guns or butter.
Ans: d. guns or butter.
Economics
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The sum of the number of employed people and the number of unemployed people equals the labor force of a country
a. True b. False Indicate whether the statement is true or false
Economics
The rule of rational choice holds that people will alter their behavior if ______.
a. expected marginal benefits outweigh expected marginal costs b. they can afford both the money costs and the non-money costs c. comparative advantages are greater than absolute advantages d. changes to their course of action are slow and incremental
Economics