Scarcity is a situation in which resources are limited in quantity and can be used in different ways.
Indicate whether the statement is true or false.
Answer: False.
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In 2002, government expenditures as a percentage of GDP were lowest for which country?
a. Sweden b. United States c. Germany d. France
Corporate profits are
A. taxed twice-once by the corporate tax system, and again by personal tax system when they are paid to stockholders as dividends. B. taxed three times-once by the corporate tax system, again by the personal tax system, and again as capital gains. C. taxed only when a stockholder sells his or her shares of stock. D. taxed at too low a rate.
Refer to the information provided in Figure 13.4 below to answer the question(s) that follow. 
Figure 13.4Refer to Figure 13.4. The profit-maximizing price for this firm is
A. $5. B. $7. C. $9. D. $11.
The costs associated with recalculating prices and printing new price lists when there is inflation are known as
A) menu costs. B) diminishing costs. C) shoe leather costs. D) chain-index costs.