Whether studying the output of the U.S. economy or how many classes a student will take, a unifying concept is that:
A. wants are limited and resources are unlimited, so trade-offs are unnecessary.
B. both wants and resources are unlimited.
C. wants are limited and resources are unlimited, so trade-offs have to be made.
D. wants are unlimited and resources are scarce, so trade-offs have to be made.
Answer: D
Economics
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Indicate whether the statement is true or false
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A signaling theory of education suggests that
a. people who attend college are more likely to capture a "beauty premium." b. education is a signal of social status. c. education does not necessarily increase productivity. d. education will sever the link between innate ability and compensation.
Economics