Dutch Disease is associated with a dramatic decline in the demand for a primary commodity produced by a country

The social cost of producing a good that generates negative externalities is the sum of the ________

A) average variable cost and average fixed cost of production B) average total cost and the marginal cost of production C) private cost and external costs of production D) total fixed cost and total variable cost of production

The difference between scarcity and a shortage is that

A) scarcity is caused by poverty and shortages are caused by natural disasters. B) shortages are a type of scarcity caused by natural disasters while scarcity is caused by human errors. C) scarcity always is a part of human life while shortages usually are temporary. D) shortages are always part of human life while scarcity is usually temporary.