The Study of economics is primarily concerned with
A) Keeping private businesses from losing money
B)choices which have to be made concerning the use of scarce resources.
C)determining with most equitable distribution of societies output
D)Demonstrating that capitalistic economies are superior to socialistic economies
B)choices which have to be made concerning the use of scarce resources.
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The demand for a particular brand of shoes decreased due to a change in consumers' tastes and preferences. This will lead to a(n) ________, assuming all else equal
A) downward movement along a firm's labor demand curve B) rightward shift of the firm's labor demand curve C) upward movement along a firm's labor demand curve D) leftward shift of the firm's labor demand curve
The times during which real GDP increases are referred to as
A) contractions. B) expansions. C) anti-cycles. D) corrections.