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The most desirable alternative given up as a result of a decision is the: A. opportunity cost B. investment cost C. substitution cost D. none of the above User: Replacing a good with a similar good because of a change in prices is an example of the: A. substitution effect B. supply and demand C. price rationalizing D. none of the above
Weegy: Replacing a good with a similar good because of a change in prices is an example of the D. none of the above User: What is the role of the Federal Open Market Committee? A. It appoints the Fed Board of Governors. B. It oversees the entire Federal Reserve System. C. It redraws the map of the Federal districts every ten years. D. It makes key decisions about the U.S. money supply. Weegy: D. It makes key decisions about the U.S. money supply. User: Which of the following is a product that is considered a commodity? A. new automobiles B. low-grade gasoline C. wrapping paper D. apple candy Weegy: B. low-grade gasoline. User: Why is the equilibrium wage higher for doctors than for convenience store clerks? A. The demand for convenience store clerks is equal to the demand for doctors. B. Supply of doctors is relatively low, and the demand is relatively high. C. The demand for convenience store clerks is low, but supply is low, too. D. Supply of doctors is relatively high and the demand is relatively low. Reset Selection Weegy: B. Supply of doctors is relatively low, and the demand is relatively high. User: The time it takes for monetary or fiscal policy to become effective is the: A. outside lag B. inside lag C. policy lag D. none of the above Weegy: B)inside lag is a delay in implementing monetary policy. User: The theory that learning increases the efficiency of production is called the: A. learning curve B. learning effect C. education cost D. none of the above Reset Selection Weegy: B. learning effect (More)
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Asked 3/10/2013 7:17:07 PM
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A consumer’s desire to buy something and the ability to pay for it is called: A. economic desire B. law of diminishing returns C. supply D. demand
Weegy: D. demand. In economics, demand is an economic principle that describes a consumer's desire, willingness and ability to pay a price for a specific good or service. (More)
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Asked 3/10/2013 7:24:30 PM
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Which of the following is a main economic variable that affects business cycles? A. stagflation B. national income accounting C. interest rates D. personal savings
Weegy: The answer is A. stagflation User: What is an example of a positive external shock to aggregate supply? A. Good weather leads to an unusually productive harvest for corn farmers. B. A popular new diet encourages consumers to buy more corn flakes. C. Demand for new suburban houses increases the value of farmland. D. China announces that it plans to import more corn from the United States. Weegy: A. Good weather leads to an unusually productive harvest for corn farmers. User: Which of the following is considered a cause of inflation? A. Wages go down. B. Producers raise prices to meet higher costs. C. There is not enough money in the economy. D. Demand is less than supply. Weegy: B. Producers raise prices to meet higher costs is considered a cause of inflation. (More)
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Asked 3/11/2013 12:25:19 PM
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