A good is scarce if we must sacrifice something to obtain it.
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Q114: An example of a normative statement is:
A)
Q115: Positive statements are:
A) microeconomic in nature.
B) macroeconomic
Q116: A free good is one that can
Q117: The current rate of unemployment of 5
Q118: Scarcity is determined by the existence of
Q120: Most economists' disagreements are a result of:
A)
Q121: An attempt should always be made to
Q122: The questions of what goods to produce,
Q123: Ceteris paribus means allowing all things to
Q124: The three fundamental economic questions are what,
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