Author Question: Scarcity is A) a situation of shortage after a hurricane. B) a permanent human condition ... (Read 32 times)

deesands

  • Hero Member
  • *****
  • Posts: 514
Scarcity is
 
  A) a situation of shortage after a hurricane.
  B) a permanent human condition relative to the nearly limitless nature of human desires.
  C) represented by long lines at stores.
  D) the same thing as poverty.

Question 2

Suppose you are told that the equilibrium price of gasoline has increased, while the equilibrium quantity of gasoline has fallen. You are also told that either the demand changed or supply changed, but not both.
 
  Which of the following must have occurred? A) Demand increased.
  B) Demand decreased.
  C) Supply increased.
  D) Supply decreased.



coyin

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

B

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

For a complete list of videos, visit our video library