Chapter Checkpoint
Study Plan Problems and Applications
Provide three examples of scarcity that illustrate why even the 1,826 billionaires in the world face scarcity.
Label each entry in List 1 as dealing with a microeconomic topic or a macroeconomic topic. Explain your answer.
List 1
Motor vehicle production in China is growing by 10 percent a year.
Coffee prices skyrocket.
Globalization has reduced African poverty.
The government must cut its budget deficit.
Apple sells 20 million iPhone 6 smartphones a month.
Use the following information ...
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