Suppose the U.S.government has an annual budget of about $3.03 trillion.Does the U.S.government face the problem of scarcity?
A)No, a government with $3.03 trillion faces no real constraints.
B)No, scarcity does not apply to governments.
C)Yes, resources are limited even for the U.S.government.
D)Yes, although the U.S.government can easily obtain more resources.
E)Uncertain-economic theory has no answer to this question.

Question

Quizplus · Accepted Answer

Yes, resources are limited even for the US government. Even with a large budget of $3.03 trillion, the government still needs to prioritize its spending and allocate its resources in the most efficient way possible, indicating the presence of scarcity.