Author Question: The existence of scarcity means that A) there are not enough resources to satisfy unlimited human ... (Read 83 times)

savannahhooper · **on:** Jun 29, 2018

The existence of scarcity means that

A) there are not enough resources to satisfy unlimited human wants.
B) firms will increase their production to eliminate the scarcity.
C) the government will step in to eliminate the scarcity.
D) firms working with the government will allocate resources to eliminate the scarcity.

Question 2

A microeconomist would study all of the following issues EXCEPT

A) the impact of a change in consumer income on the sales of corn.
B) the impact of a snowstorm on the sales of snow shovels.
C) the most efficient means for General Motors to produce an automobile.
D) the effect of a change in income taxes on the nation's rate of unemployment.