The public sector includes ?
A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter
The economics the central problem is ?
A. Scarcity
B. Money
C. Consumption
D. Allocation
Microeconomics is not concerned with the behavior of ?
A. aggregate demand
B. firms
C. Consumers
D. industries.
Aggregate supply is the total amount ?
A. of labor supplied by all households
B. Produced by the government
C. of goods and services produced in an economy.
D. of products produced by an industry
Inflation is ___?
A. a decrease in the overall price level
B. an increase in the overall price level
C. an increase in the overall economics
D. a decrease in the overall level of economics
A student chooses to study because the marginal benefit is greater than the ____ cost?
A. average
B. expected
C. total
D. marginal
In a free market system, the amount of goods and services that any one household gets depends upon its ?
A. income
B. income and wealth
C. wealth
D. wage and interest income
Trade-offs are required because wants are unlimited, and resources are ?
A. economical
B. unlimited
C. Efficient
D. Scarce
A rational person does not act unless ?
A. the action is ethical
B. The action produces marginal costs
C. The action produces marginal benefits that exceed marginal costs.
D. The action makes money for the person
