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Author Question: Which of the following observations regarding economic goods is incorrect? a. They are limited in ... (Read 38 times)

futuristic

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on: Jun 30, 2018
Which of the following observations regarding economic goods is incorrect?
 a. They are limited in supply.
 b. They are desirable.
 c. They are solely low-priced essential goods.
 d. They are scarce goods created from scarce resources

Question 2

Suppose that in 2011 nominal GDP increased and real GDP decreased relative to the year 2010 . It can be concluded that:
 a. the economy experienced inflation and the total production of goods and services increased.
  b. the economy experienced deflation and the total production of goods and services increased.
  c. the economy experienced inflation and the total production of goods and services decreased.
  d. the economy experienced deflation and the total production of goods and services decreased.


batool

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


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futuristic

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Reply #2 on: Jun 30, 2018
Thank you


batool

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Reply #3 on: Jun 30, 2018
No problemo


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