"Wants" as an economic concept includes
A) both material and nonmaterial desires.
B) only the purchase of necessary basic goods.
C) only the desire for luxury goods.
D) only those goods that can be purchased with one's paycheck.
A
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Which one of the following factors will most likely cause an increase in aggregate demand?
a. an increase in the expected inflation rate b. an increase in the real interest rate c. a decrease in net exports due to falling incomes abroad d. a technological development that decreases the cost of producing computer chips
Under which of the following situations will the infant industry argument for protection be valid?
A. Benefits from early business investments accrue to the firms making these early investments. B. Firms that produce important military hardware have substantial political support. C. The more a country exports, the more the price of its exports falls relative to its imports. D. New firms are unable to obtain funds from the financial market owing to inherent imperfections in the banking system.