Economics is the study of

a. how the human race differs from other species
b. how individuals amass personal fortunes in the stock market
c. how individuals and nations deal with the problem of scarcity
d. role that money plays in the economy
e. how goods and services are distributed throughout the world

C

Economics

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If you are willing to purchase a house for $500,00 . and you purchase the house for $500,00 . , this transaction will generate:

a. There is no surplus created b. $0 worth of seller surplus and unknown amount of buyer surplus c. $0 worth of buyer surplus and unknown amount of seller surplus d. Not information provided

Economics

Which of the following would not shift demand curve for union labor to the right?

a. increased demand for union-made goods b. increased labor productivity by lowering quit rates c. increased supply of products that compete with union-made products d. increased labor productivity through better labor-management relations e. appeals to consumers to buy only union-made products

Economics