This topic contains a solution. Click here to go to the answer

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

asan beg

  • Hero Member
  • *****
  • Posts: 570
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

momo1250

  • Sr. Member
  • ****
  • Posts: 338
Answer to Question 1

C

Answer to Question 2

A




asan beg

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
:D TYSM


JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
Gracias!

 

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

For a complete list of videos, visit our video library