Economics is best defined as the study of
A) financial decision-making.
B) inflation, unemployment, and economic growth.
C) the choices made by people faced with scarcity.
D) how consumers make purchasing decisions.
Question 2
According to the text, the probability of an unemployed person finding a job doubles when
A) his unemployment benefits expire. B) the economy enters a recessionary phase.
C) his unemployment benefits are extended. D) he is threatened with arrest.
