Which of the following is true regarding scarcity?
a. Scarcity could be eliminated if all economies of the world would work together to solve world hunger.
b. Scarcity could be eliminated if we had full employment.
c. It is impossible to eliminate scarcity, given limited resources and unlimited wants.
d. Scarcity could be eliminated if all economies of the world would adopt communism.
e. Scarcity could be eliminated if all economies of the world would adopt a free market system.
c
You might also like to view...
Regarding the production of health care, more recent studies suggest that economies of scale exist up to a hospital size of approximately 200 beds
Indicate whether the statement is true or false
On the graphs above, show how the central bank implements a decrease in the inflation target. In words, explain why the change in the real interest rate is temporary
What will be an ideal response?
Which countries had double digit inflation rates for most of the first decade in the twenty- first century?
a. Nigeria, Turkey, Venezuela, Myanmar b. Indonesia, Iran, Belarus, the Russian Federation c. Nigeria, Indonesia, the Russian Federation, Turkey d. Indonesia, Iran, Nigeria, the Russian Federation
Which of the following factors would increase aggregate demand in the goods and services market?
a. an decrease in stock prices b. an increase in the real interest rate c. a decrease in real incomes abroad d. increased optimism on the part of consumers and businesses