Suppose statistical surveys indicate that new orders for manufactured goods and new building permits for single-family homes are declining and that business inventories are rising. This implies economic activity is slowing down and the economy is potentially entering a recessionary period.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Economics is concerned with:
a. the choices people must make because resources are scarce.
b. human decision makers and the factors that influence their choices.
c. the allocation of limited resources to satisfy unlimited wants.
d. all of the above.
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