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1. Which of the following situations represents an economic problem? ( a) A student trying to decide how to spend his weekly allowance. b) A

1. Which of the following situations represents an economic problem? ( a) A student trying to decide how to spend his weekly allowance. b) A country choosing to sacrifice some privacy in order to gain more security. c) Neither situation is an example of an economic problem. d) Both situations are examples of an economic

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