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We are forced to make choices because of:
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
An economy that has the lowest opportunity cost for producing a particular good is said to have a(n):
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
Which of the following is most likely a macroeconomic question rather than a microeconomic question?
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
The problem of determining what goods and services society should produce:
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
Imports are good and services that are:
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
An economy that has the lowest opportunity cost for producing a particular good is said to have a(n):
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
An example of a positive statement is:
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
If wages grew at a 3% rate this year and average prices grew ______, people would be _____ off this year compared with last year.
comparative advantage.
comparative advantage.
“Is the national unemployment rate rising or falling?”
purchased from another country.
exists because there are not enough resources to provide all the goods and services that people want to purchase.
the rate of unemployment is 4%.
slower than 3%; better
scarcity.
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