Which Statement Is True

question 35

Multiple Choice

Which statement is true?

• A)You can have a shortage without scarcity.
• B)You can have scarcity without a shortage.
• C)The terms "shortage" and "scarcity" are identical concepts in economics.
• D)No scarcity will exist at a market equilibrium price.

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Definitions:

Hiring Decisions

The process by which employers select candidates to fill job vacancies, based on factors like qualifications, experience, and cultural fit.

Deception

The act of misleading or deceiving someone by presenting false information or concealing the truth.

Causal Relationship

A connection between two events where one is understood to be directly responsible for causing the other.

IRB

IRB (Institutional Review Board) is a committee established to review and approve research involving human subjects, ensuring that the research is ethical and the rights and welfare of participants are protected.