The problem of "scarcity" applies
A) only in industrially developed countries because resources are scarce in these countries.
B) only in underdeveloped countries because there are few productive resources in these countries.
C) only in economic systems that are just beginning to develop because specialized resources are scarce.
D) to all economic systems, regardless of their level of development.
D
Economics
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Refer to Figure 7.1. When both players act in their best interests, financially, the size of the economic pie is
A) $350. B) $650. C) $700. D) $900.
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During periods of inflation, the real value of a given amount of nominal dollars decreases
a. True b. False Indicate whether the statement is true or false
Economics