Economics is best defined as the study of how people, businesses, governments, and societies
A) choose abundance over scarcity.
B) make choices to cope with scarcity.
C) use their infinite resources.
D) attain wealth.
B
Economics
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By raising the discount rate, the Federal Reserve ________ banks from borrowing more reserves
A) short-changes B) prohibits C) discourages D) encourages
Economics
To the extent that unions can transfer profits from unionized employers to union workers, they will
a. reduce the incentive of unionized employers to invest in fixed capital and research. b. increase employment in the unionized sector. c. reduce the incentive of nonunion firms to invest and expand their output. d. increase the productivity of labor in the long run.
Economics