Scarcity means that A) what we can produce with our resources ...

[khang]

Scarcity means that
 
  A) what we can produce with our resources is greater than our material wants.
  B) resources are unlimited.
  C) wants are greater than what we can produce with our resources.
  D) governments must make up for shortages in resources.
  E) choices made in self-interest cannot be the same as those made in the social interest.

Question 2

Due to a baby bust in the 1960s and 1970s, fewer people entered the labor market in the 1980s and 1990s.
 
  This demographic event ________ the natural unemployment rate thereby shifting the short-run Phillips curve ________ and shifting the long-run Phillips curve ________.
  A) increased; leftward; rightward
  B) decreased; rightward; rightward
  C) decreased; leftward; leftward
  D) increased; rightward; rightward
  E) increased; rightward; leftward

[cegalasso]

Answer to Question 1

C

Answer to Question 2

C

[khang]

YES! Correct, THANKS for helping me on my review

[Bigfoot1984]

Gracias!