Author Question: Which of the following is correct about the economic decisions consumers, firms, and the government ... (Read 78 times)

ishan · **on:** Jun 29, 2018

Which of the following is correct about the economic decisions consumers, firms, and the government have to make?

A) Each faces the problem of scarcity which necessitates trade-offs in making economic decisions.
B) Governments may face the problem of shortages but not scarcity in making economic decisions.
C) Firms and the government face scarcity, individuals only face shortages.
D) Only individuals face scarcity; firms and the government do not.

Question 2

Japan has a single-payer health care system in which the government provides national health insurance to all Japanese residents.

Indicate whether the statement is true or false