Which of the following is the best example of scarcity?
A) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies.
B) Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues.
C) The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply.
D) There is a bumper crop of strawberries, and stores have more berries than they can sell.
B
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Macroeconomics helps explain economic fluctuations, why the economy shrinks and expands and why some of the economy's resources are idle
Indicate whether the statement is true or false
Negative real shocks and negative demand shocks:
A. commonly come together. B. are shown in the AD/AS model in the same way. C. usually do not happen at the same time. D. have the same basic causes.