Multiple Choice
A budget constraint
A) does not occur if there is scarcity.
B) is faced only by poor people.
C) is a way to overcome scarcity.
D) forces people to make choices.
E) prohibits consumers from spending.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: The key elements of a market economy
Q6: Aaron's budget is such that he can
Q7: Which of the following statements is false?<br>A)There
Q8: Given a production possibilities curve for defense
Q9: A centrally planned economy is also called
Q11: Exhibit 1-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 1-2
Q12: Amy has only $50 to spend for
Q13: Exhibit 1-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 1-2
Q14: Market failure<br>A)caused the collapse of centrally planned
Q15: Economics is the study of how people