When People Want More Goods and Services Than Are Available,the

question 74

Multiple Choice

When people want more goods and services than are available,the economy undergoes inflation.Which economic principle does this statement BEST represent?

• A)There are gains from trade.
• B)When markets don't achieve efficiency,government intervention can improve society's welfare.
• C)Overall spending sometimes gets out of line with the economy's productive capacity.
• D)Government policies can change spending.

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Definitions:

Metaphoric Element

Components or aspects of speech, writing, or thought that use metaphor to convey meanings in a symbolic or associative manner.

Social Cognition

Refers to how individuals process, store, and apply information about other people and social situations, influencing their behavior in social contexts.

Clipboard

A hardboard with a clip at the top for holding papers in place, used for writing on without a desk.

Self-Fulfilling Prophecy

A prediction that directly or indirectly causes itself to become true due to positive feedback between belief and behavior.