Which of the following us not an example of resource scarcity?
a. There is a finite amount of petroleum in the world
b. Farming communities are experiencing droughts
c. There are not enough physicians to satisfy all desires for health care in the US
d. Cassette tapes are no longer being produced
e. Teachers would like to have more instructional technology in their classrooms
Answer: d. Cassette tapes are no longer being produced
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What is the Doha Development Agenda?
What will be an ideal response?
A free-rider problem arises whenever: a. goods cannot be provided exclusively to those who pay for them. b. the price of a good is very low
c. the government provides goods or services. d. goods cease to be scarce.
Economists believe that externalities can be cured by market methods
a. True b. False Indicate whether the statement is true or false
A decrease in what variable will raise the quantity of goods and services supplied, and shift only the short run aggregate supply curve to the right?