In Which of the Following Cases Can We Be Certain

question 108

Multiple Choice

In which of the following cases can we be certain that a natural resource has become scarcer?

• A)both the demand for the resource and the supply of the resource have increased.
• B)both the demand for the resource and the supply of the resource have decreased.
• C)the demand for the resource has increased and the supply has decreased.
• D)the demand for the resource has decreased and the supply has increased.

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Definitions:

Balance of Payments

A record of all financial transactions made between a country and the rest of the world over a specific period.

Debit

A financial record that leads to a rise in assets or a reduction in liabilities on a corporation's balance sheet.

Balance of Payments

The balance of payments is a comprehensive record of a country's economic transactions with the rest of the world, including trade, investments, and financial transfers, over a specific time period.

Statistical Discrepancy

The difference between two statistical outcomes that should theoretically match but do not due to errors or estimation methods.