Chapter 1: Economics: The Core Issues
Scarcity exists because of the imbalance between our desires and available resources, forces us to make economic choices, and implies the need to use resources efficiently.
Scarcity exists because of a lack of enough resources to satisfy all desired uses of those resources.
Scarcity implies that an increase in law enforcement services produced in a given year will decrease the amount of other goods and services that can be produced
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to the right.
Which of the following would be included in investment spending?
(pg. 181 Main, Macro) Investment is defined as expenditures on new plant, equipment, and structures plus changes in business inventories. Residential housing is also included as investment. Purchases of used housing and equipment is not included in investment. The purchase of stock is considered "saving" in economics, not investment.
Which of the following causes a movement along the investment demand curve? A c