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The economic concept of guns or butter means that A. a person can spend money on either sports equipment or food. B. a company must decide whether to manufacture guns or butter. C. a government must decide to produce more or less military or consumer goods. D. a government can buy unlimited military and civilian goods if it is rich enough.
Weegy: The economic concept of guns or butter means that C. a government must decide to produce more or less military or consumer goods. User: Which of the following might a government provide as part of a safety net for the people? A. general elections every four years B. unemployment compensation C. a strong military defense D. regulation of commerce Weegy: The answer is B. unemployment compensation User: The owner of a clothing factory wants to make more winter coats. According to the law of increasing costs, what will happen next? A. The factory owner will have to give something up to make more coats. B. The cost of making winter coats will stay the same. C. The opportunity to make winter hats goes up. D. The factory owner will need fewer resources to make more coats. (More)
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Asked 2/4/2013 9:38:48 AM
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The law of increasing costs means that as production shifts from one item to another, A. the cost of production gets cheaper and cheaper. B. the cost of producing an item stays the same no matter how many are produced. C. more and more resources are necessary to increase production of the second item. D. the land costs of increasing production rise much more steeply than do the labor costs.
Weegy: The law of increasing costs means that as production shifts from one item to another C. more and more resources are necessary to increase production of the second item. pvhs.chicousd.org/teachers/BethBurton/documents/Economics/chap_1/... User: What is the difference between a shortage and a scarcity? A. A shortage can be temporary or long-term, but scarcity always exists. B. A shortage results from rising prices; scarcity results from falling prices. C. A shortage is a lack of all goods and services; scarcity concerns a single item. D. There is no real difference between a shortage and a scarcity. Weegy: A. A shortage can be temporary or long-term, but scarcity always exists. User: What line on a production possibilities curve shows the amounts of goods produced? A. production possibilities frontier B. opportunity cost line C. utilization of resources D. maximum possible production line Weegy: A. production possibilities frontier User: If you choose between two summer jobs, what is the one you do not choose called? A. trade-off B. opportunity cost C. decision at the margin D. opportunity at the margin Weegy: If you choose between two summer jobs, the one you do not choose is called B. opportunity cost. (More)
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Asked 2/4/2013 9:56:06 AM
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Which of the following is part of communism but not socialism? A. central planning B. government controlled services C. authoritarian government D. government controlled resources
Weegy: C. authoritarian government. Socialist nations are some of the happiest on Earth. User: Where are traditional economies usually found? A. in small communities that welcome change B. in large communities that welcome change C. in large communities that are able to deal with environmental disaster D. in small communities that avoid change Weegy: D. in small communities that avoid change. Traditional economies are usually found in small communities that avoid change. User: Why are free market economies able to attain economic growth? A. Consumers can purchase all the goods they need, which causes firms to produce more. B. Competition encourages innovation, which causes growth. C. Everyone is acting in their own self-interest, which motivates market growth. D. Firms keep producing incentives to encourage households to purchase more goods. Weegy: B. Competition encourages innovation, which causes growth. (More)
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Asked 2/6/2013 11:07:05 AM
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In what kind of an economy does the government make all the decisions? A. mixed B. laissez-faire C. centrally planned D. free enterprise
Weegy: In C. centrally planned economy the govt. makes all decisions User: To improve its standard of living, a nation’s economy must A. remain stable. B. grow through innovation. C. reach economic equity. D. allow the central government to make economic decisions. Weegy: B. grow through innovation. User: A town wants to repair a school in one of its poorest neighborhoods. To pay for it, citizens vote to raise taxes on households and businesses. What social goal best explains this economic decision? A. freedom B. security C. growth D. equity Weegy: The answer is D. Social Equity is the cornerstone of Social Capital, which cannot be maintained for a few at the expense of the many. User: The following lists are nations with mixed economies. In which list is the free market most dominant? A. France, Canada, South Africa, United Kingdom B. United States, United Kingdom, Singapore, Hong Kong C. Cuba, Greece, China, United States D. Russia, Peru, France, Canada Weegy: The following lists are nations with mixed economies. In which list is the free market most dominant? B. United States, United Kingdom, Singapore, Hong Kong. (More)
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Asked 2/6/2013 10:59:12 AM
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