Scarcity
a. necessitates choice among consumer goods.
b. of income renders purchase decisions interdependent.
c. affects all consumer decisions.
d. may involve forgoing the pleasure of one good in order to enjoy another.
e. All of the above answers are correct.
e
Economics
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Which of the following is NOT likely to affect investment?
A) variations in expected output B) the nominal interest rate C) the real interest rate D) the tax treatment of depreciation allowances
Economics
What happens to the price and quantity sold of a drug when its patent runs out? (i) The price will fall. (ii) The quantity sold will fall. (iii) The marginal cost of producing the drug will rise
a. (i) only b. (i) and (ii) only c. (ii) and (iii) only d. (i), (ii), and (iii)
Economics