Scarcity forces people to
A) cheat and steal.
B) consume as much as they can as quickly as they can.
C) choose among available alternatives.
D) live at a low standard of living.
E) be unwilling to help others.
C
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In the two-period model with asymmetric information, a bank
A) creates money. B) keeps money safely. C) multiplies reserves. D) borrows and lends.
The Willie and Martin Companies were:
a. two groups of Mormon "handcarters" who were stranded when early winter storms interrupted their migration. b. two work teams that were instrumental in completing the first transcontinental railroad. c. the northern and southern branches, respectively, of the Granger organization. d. two railroad construction companies that were found to have "insiders" on the boards of railroad companies with which they contracted.
Assume Brandon's benefit function for water is S(W) = ?W and he consumes water both in droughts, WD, or in the rainy season, WR. Assume his current consumption bundle is WD = 36 and WR = 25 and the probability of drought is 0.75. Expected water consumption is:
A. 33.25 units of water. B. 61 units of water. C. 30.5 units of water. D. 27 units of water.
Historically, high-income countries have been the primary contributors to the greenhouse gases that cause global warming. Who are the primary contributors today?
a. Low-income countries b. Developing countries c. Middle-income countries d. High-income countries