In every economic system, choices must be made because resources
A) are unlimited, but human desires and wants are limited.
B) are limited, but human desires and wants are unlimited.
C) are unlimited, and so are human desires and wants.
D) are limited, and so are human desires and wants.
B
Economics
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What is meant by aggregation? Why is aggregation important for macroeconomic analysis?
What will be an ideal response?
Economics
(Consider This) Suppose that coffee growers sell 200 million pounds of coffee beans at $2 per pound in 2015 and 240 million pounds for $3 per pound in 2016. Based on this information, we can conclude that the:
A. law of supply has been violated. B. law of demand has been violated. C. demand for coffee beans has increased. D. supply of coffee beans has increased.
Economics