Scarcity exists because
A) society and people are greedy and wasteful.
B) our wants exceed the resources available to satisfy them.
C) of the inefficient choices we make.
D) poor people need more food and other goods.
B
You might also like to view...
The real wage denotes
A) the number of units of consumption goods that can be exchanged for one unit of labor time. B) the number of units of labor time that can be exchanged for one unit of consumption goods. C) the number of units of labor time that can be exchanged for one unit of leisure time. D) the number of units of leisure time that can be exchanged for one unit of labor time.
Real GDP is another term for
a. current dollar GDP. b. actual GDP. c. constant dollar GDP. d. tangible GDP.
The income tax requires that taxpayers pay 10percent on the first $40,000 of income and 20 percent on all income over $40,000 . Emily paid $9,000 in taxes. What were her marginal and average tax rates?
a. 20 percent and 13.8 percent, respectively b. 20 percent and 15 percent, respectively c. 10 percent and 13.8 percent respectively d. 10 percent and 15 percent respectively
The marginal cost curve crosses the average total cost curve at
a. the efficient scale. b. the minimum point on the average total cost curve. c. a point where the marginal cost curve is rising. d. All of the above are correct.