Why do societies need rationing devices?
A) Because people have too many needs and not enough wants.
B) Because price exists.
C) Because scarcity exists.
D) Because people have opportunity costs.
C
Economics
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Cyclical unemployment increases during recessions
Indicate whether the statement is true or false
Economics
In the dynamic aggregated demand and aggregate supply model, inflation occurs if
A) SRAS shifts faster than AD. B) AD shifts slower than SRAS. C) LRAS shifts faster than AD. D) AD shifts faster than SRAS.
Economics