In competitive markets, a surplus or shortage will select one: a. never exist because the markets are always at equilibrium. b. cause changes in the quantities demanded and supplied that tend to eliminate the surplus or shortage. c. cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage. d. cause changes in the quantities demanded and supplied that tend to intensify the surplus or shortage.

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.