Fundamental economic problems basically arise from
A) the fact that society has more than it needs.
B) turmoil in the stock market.
C) the unequal distribution of income.
D) our wants exceeding our scarce resources.
D
Economics
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Refer to Figure 28-4. Consider the shift in the short-run Phillips curves shown in the above graph. This shift may be explained by
A) either an increase in the natural rate of unemployment from 5.0 to 6.2 percent or an increase in the expected rate of inflation from 4.0 to 5.5 percent. B) an increase in the expected rate of inflation from 4.0 to 5.5 percent. C) an increase in the natural rate of unemployment from 5.0 to 6.2 percent. D) None of the above is correct.
Economics
Explain why the average cost curve for the long run differs from that for the short run
Economics