The adage, "There is no such thing as a free lunch," is used to illustrate the principle that
a. goods are scarce.
b. people face tradeoffs.
c. income must be earned.
d. households face many decisions.
b
Economics
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Suppose in 2003, President Bush and the Congress made consumer credit harder to obtain. This would have the effect of
a. shifting the investment curve up b. shifting the investment curve down c. shifting the consumption curve up d. shifting the consumption curve down e. increasing the level of investment
Economics
Which of the following is not included in U.S. GDP?
a. The market value of an oil change that Ben performs on his own car. b. The market value of an oil change at Speedy Lube. c. The market value of oil purchased by Ben. d. Production of foreign citizens living in the United States that work in an oil packaging facility.
Economics