The study of economics
A. is a very narrow endeavor.
B. is a way of analyzing decision-making processes caused by scarcity.
C. focuses on how a business should function.
D. is concerned with proving that capitalism is better than socialism.
B. is a way of analyzing decision-making processes caused by scarcity.
Economics
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Which of the following is not part of GDP?
A. purchases of new goods by households B. firms buying new machines C. the government buying new schools D. businesses paying bribes to government officials
Economics
What does the slope of the budget line equal?
What will be an ideal response?
Economics