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Author Question: Which of the following sets of terms describes the problem of scarcity in economics? A) goods, ... (Read 116 times)

asan beg

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on: Jun 29, 2018
Which of the following sets of terms describes the problem of scarcity in economics?
 
  A) goods, land, and needs
  B) labor, needs, and opportunity costs
  C) choices, opportunity costs, and trade-offs
  D) production, consumption, and wants

Question 2

Suppose Paris thinks a 5 percent increase in her hourly wage as an incentive to work more hours while the price level also increases by 5 percent. Paris is said to be suffering from
 
  A) money illusion.
  B) rationality.
  C) irrationality.
  D) the effects of competition.


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momo1250

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


asan beg

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Reply 2 on: Jun 29, 2018
:D TYSM

JaynaD87

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Reply 3 on: Yesterday
Gracias!

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