Macroeconomics in Modules notes

TEST BANK FOR MACROECONOMICS IN MODULES, 3EDITION BY PAUL KRUGMAN, ROBIN WELLS Chapter 1 1. Scarcity in economics means: *a. we do not have sufficient resources to produce all the goods and services we want. b. the wants of people are limited. c. there must be poor people in rich countries. d. shortages exist in nearly all markets. 2. If resources are “scarce,” it means that they: *a. cannot provide enough goods or services to satisfy all human material wants and needs. b. have no o...

TEST BANK FOR MACROECONOMICS IN MODULES, 3EDITION BY PAUL KRUGMAN, ROBIN WELLS Chapter 1 1. Scarcity in economics means: *a. we do not have sufficient resources to produce all the goods and services we want. b. the wants of people are limited. c. there must be poor people in rich countries. d. shortages exist in nearly all markets. 2. If resources are “scarce,” it means that they: *a. cannot provide enough goods or services to satisfy all human material wants and needs. b. have no o...