The basic economic problem is a situation of
A) limited resources and unlimited wants.
B) both limited resources and limited wants.
C) limited incomes and unlimited choices.
D) unlimited incomes and limited choices.
Ans: A) limited resources and unlimited wants.
Economics
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If real GDP grows by 3 percent, the velocity of circulation does not change, and the quantity of money grows by 5 percent, then in the long run the inflation rate is
A) 8 percent. B) -5 percent. C) 2 percent. D) 3 percent. E) -2 percent.
Economics
A positive aspect of migration out of developing countries is
a. reduced population growth b. remittances to developing countries c. increased agricultural productivity d. increased foreign aid e. all of the above
Economics