Which of the following is the best example of scarcity?
A) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies.
B) Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues.
C) The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply.
D) Pokemon Go is the most popular cell-phone app that can be downloaded free from an app store.
Answer: B
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To promote long-term economic growth, national governments should:
a. Increase government spending and reduce taxes. b. Reduce government spending and increase taxes. c. Establish fair rules of behavior and provide the means to enforce them. d. Promote research and development with federal funds. e. Impose tariffs and quotas until the nation is on its feet.
Which of the following statements is false?
A) A call option will sell for a fraction of the cost of the stock. B) A futures contract can be written for a commodity (such as wheat), or for a currency. C) A futures contract gives the owner the right, but not the obligation, to buy or sell a commodity at a specified price on a given future date. D) The specified price at which an option gives the owner the right to buy a stock at is called the stick price.