Section One - Scarcity and the Science of Economics 1. Explain the problem of scarcity and why even wealthy nations must contend with it.
2. Is scarcity caused by a shortage of money? What would happen to scarcity if the government decided to give everyone $1 million dollars? Explain your answer.
3. List the three basic economic questions that all societies must answer.
4. List the factors of production. Provide a description and an example of each.
5. Define economics in your own words.

bro this is  too much work do your own stuff like no one is going to do all that work i could do 1 question but not a whole 5 question quiz

Explanation:

both are true, the congress does have the power to create banks, even if this power is not specifically described in the constitution, since there is nothing restricting it and there is power given to the congress to make "all laws which shall be necessary and proper". maryland was not allowed to tax a branch of the national bank operating there, and the supreme court decided that no state could. both of these topics were discussed in a decision of the mcculloch v. maryland case in 1819.