Greater scarcity of a natural resource is indicated
A) by any increase in the price whether the price increase is less than or greater than the rate of inflation.
B) only by any increase in the price which is less than the rate of inflation.
C) only by any increase in the price which is greater than the rate of inflation.
D) only by an increase in price which is caused by a decrease in supply and is greater than the rate of inflation.
Correct Answer:
Verified
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