In the health insurance field, asymmetric information creates problems _____ insurance contracts are signed; moral hazard causes problems_____ insurance contracts are signed

Which of the following statements is true?

A) Gold is not a scarce resource. B) Both life-saving drugs and ice cream are examples of scarce goods. C) If a scarce resource is given away for free, everyone will be able to consume it. D) Scarcity means that there is an imbalance between unlimited resources and limited wants.

If goods X and Y are substitutes and the price of X falls, all other things being equal, the demand curve for Y will

A) be indeterminate. B) shift to the right. C) shift to the left. D) not shift at all.