Because resources are scarce, individuals are required to
A) make choices among alternatives.
B) improve production but not distribution.
C) improve distribution but not production.
D) use resources inefficiently.
E) sacrifice production but not consumption.
Ans: A) make choices among alternatives.
Economics
You might also like to view...
A reduction in government spending causes the equilibrium level of aggregate output to ________ at any given interest rate and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) fall; IS; left C) fall; LM; left D) rise; IS; right
Economics
If the quantity of bread demanded rises 2 percent when the price of bread declines 10 percent, then the price elasticity of demand is:
A. 0.2. B. 2. C. 5. D. 10.
Economics