Scarcity in economics means that:
there must be poor people in rich countries.
the wants of people are limited.
we do not have sufficient resources to produce all of the goods and services we want.
shortages exist in nearly all markets.

Explain the difference between a plurality and a majority in terms of choosing a candidate for a primary

In a small, closed economy, national income (gdp) is $350 million for the current year. individuals have spent $100 million on the consumption of goods and services. they have paid a total of $60 million in taxes and the government has spent $75 million on goods and services this year. use this information and the national income identity to answer the questions. how much does the economy spend on investment?

Which of the following people would a member of congress most likely contact for information on pending revenue legislation? a) a bureaucrat in a foreign government's revenue service. b) the host of a popular talk show c) the staff at one of the congressional support agencies d) athletes on a professional sports team form a major city