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:

Labor Militancy

Labor Militancy refers to a more aggressive and confrontational approach within the labor movement, often involving strikes, protests, and other direct action tactics to secure workers' rights and demands.

Civil Liberties

Individual rights protected by law from governmental interference or restriction, including freedom of speech, assembly, and religion.

Labor Rights

The protections and entitlements of workers, including the right to safe working conditions, fair wages, and freedom from discrimination, established by law and labor unions.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment, significant declines in output and the standard of living, and widespread poverty.