Which of the Following Statements About the Economic Decisions Consumers

question 229

Multiple Choice

Which of the following statements about the economic decisions consumers, firms, and the government have to make is false?

• A)Governments face the problem of scarcity in making economic decisions.
• B)Only individuals face scarcity; firms and the government do not.
• C)Both firms and individuals face scarcity.
• D)Each faces the problem of scarcity which necessitates trade-offs in making economic decisions.

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Definitions:

Manual Transmission

A type of vehicle transmission that requires the driver to manually shift gears using a clutch and a gear stick.

Factorial Design

An experimental setup that allows researchers to study the effects of two or more independent variables simultaneously on a dependent variable.

Main Effect

In statistical analysis, the direct impact of an independent variable on a dependent variable.

Interaction Effect

Occurs when the effect of one independent variable on the dependent variable differs depending on the level of another independent variable.