Many Economists View Resource Scarcity as A

question 137

Multiple Choice

Many economists view resource scarcity as a:

• A)major obstacle to long-run economic growth.
• B)problem resolved fairly well by the market mechanism.
• C)primary reason for poor countries' lack of economic growth.
• D)problem for wealthy countries but not for poorer countries.

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Definitions:

McMaster University

A public research university located in Hamilton, Ontario, Canada, known for its innovative educational practices.

Facial Features

Distinct attributes or aspects of the human face, such as eyes, nose, and mouth, used in identifying individuals or expressing emotions.

Mere Exposure Effect

A mental occurrence where individuals naturally favor items or concepts they recognize due to repeated exposure.

Self-Fulfilling Prophecy

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