Three of these are examples of nonprice competition. Select the one which is not an example of nonprice competition.

In economics, scarcity refers to the situation of:

A) optimizing with the use of limited information. B) having more wants than the amount of available resources. C) rationing of available goods and services by the government. D) sellers setting the prices of their products too high for people to be able to afford them.

Economic growth is represented by a:

A. leftward shift of a production possibilities curve. B. rightward shift of the long-run aggregate supply curve (LRAS). C. horizontal long-run aggregate supply curve (LRAS). D. downward shift of an aggregate production function.