When economists say goods are scarce, they mean
a. consumers are too poor to afford the goods and services available.
b. consumers are unwilling to buy goods unless they have very low prices.
c. goods are generally freely available from nature in most countries.
d. the desire for goods and services exceeds our ability to produce them with the limited resources available.
D
Economics
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If long-run economic growth is not accompanied by a change in aggregate demand, the result will be
A) persistent inflation. B) secular deflation. C) devaluation of the dollar. D) appreciation of the dollar.
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The foreign exchange rate is controlled by the Federal Reserve
a. True b. False
Economics