Scarcity:
A) occurs only in command economies
B) can be eliminated by technological progress.
C) exists only in capitalist economies
D) occurs if there are insufficient resources to provide for all human wants
E) can be eliminated by investment in human capital.
Correct Answer:
Verified
Q25: From an economist's perspective, which of the
Q26: Which of the following forces us to
Q27: The problem of scarcity:
A)exists because resources are
Q28: Individuals:
A)respond to incentives in predictable ways.
B)increase the
Q29: Suppose the government decides to impose a
Q31: A tax cut will lead to higher
Q32: A person behaving rationally will:
A)always avoid illegal
Q33: Economists believe that individuals:
A)aim to maximize social
Q34: Economists believe that individuals:
A)are motivated primarily by
Q35: When economists speak of markets, they primarily
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