Resources are a. scarce for households but abundant for the ...

[NguyenJ]

Resources are
 a. scarce for households but abundant for the whole economy
  b. abundant for households but scarce for the whole economy
  c. scarce for households and scarce for the whole economy.
  d. abundant for households and the whole economy.

Question 2

If real GDP increased by 2 and nominal GDP increased by 4, then output:
 a. increased and the price level increased.
  b. increased and the price level decreased.
  c. decreased and the price level increased.
  d. decreased and the price level decreased.

[ghepp]

Answer to Question 1

c

Answer to Question 2

a

[NguyenJ]

Thank you

[ghepp]

No problemo