Empirical evidence on the U.S. economy suggests that household ...

[eruditmonkey@yahoo.com]

Empirical evidence on the U.S. economy suggests that household spending and income have an inverse relationship.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Does economic growth eliminate scarcity?

[mk6555]

Answer to Question 1

False

Answer to Question 2

Growth does not eliminate scarcity. When output grows more rapidly than population, people are better off. But they still face trade-offs. At any point along the production possibilities curve, to get more of one thing, one must give up something else.

[eruditmonkey@yahoo.com]

YES! Correct, THANKS for helping me on my review

[mohan]

Thanks for the timely response, appreciate it