The economic problem of scarcity
a. is unique to a capitalist economy.
b. requires that choices be made among alternatives.
c. disappears as technology advances.
d. affects only less-developed countries.
b
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In the United States, doctors and hospitals that provide most health care are
A) 100 percent employed by the government. B) primarily private firms. C) split evenly between private firms and employed by the government. D) primarily employed by the government.
In 2009, President Obama proposed limiting the value of deductions for high-earners.
A. True B. False C. Uncertain
If Q is total real output, K is capital in use, and L is labor employed, then _____ is the formula to calculate the productivity of labor
a. K/L b. L/K c. Q/L d. Q/K e. (Q + K)/L
Some people prefer more risky projects than less risky projects. But some people prefer less risky projects to those that are more risky. What explains this behavior?
What will be an ideal response?