Which of the following statements is true regarding scarcity?
A) An economy experiences scarcity only when the incomes of its citizens decline.
B) All citizens in a wealthy economy experience scarcity.
C) Scarcity affects poorer countries only.
D) Poor people experience scarcity more often than do rich people.
E) Scarcity could be overcome if people would make all choices in the social interest.
B
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The labor force is the sum of the working-age population and the number of unemployed people
Indicate whether the statement is true or false
Public goods are unlikely to be provided by the private sector because
A. the exclusion principle does not apply to public goods. B. the production of the good creates negative externalities. C. no one can be excluded from the consumption of the good. D. the consumption of the good creates negative externalities.