28 To improve living standards policymakers should A - impose restrictions on foreign competition. B - formulate policies designed to increase productivity. C - impose tougher immigration polices. D - provide tax breaks for the middle class 29 Which of the following is not an example for scarcity? A - Only some people can afford to buy a Ferrari. B - Every individual in society cannot attain the highest standard of living to which he or she might aspire. C - Doug has an unlimited supply of apples in his orchard. D - Each member of a household cannot get everything he or she wants. 30 Irregular fluctuations in economic activity are known as the A - business cycle B - broken window fallacy C - tradeoff between inflation and unemployment D - ten principles of economics