In decentralized decision-making markets, shortages and surp…

In decentralized decision-making markets, shortages and surpluses are typically temporary, as buyers and sellers adjust their behaviors based on market conditions. Select one of the following scenarios—Buyer in a Shortage, Buyer in a Surplus, Seller in a Shortage, or Seller in a Surplus—and explain how an individual (either buyer or seller), acting in their own self-interest, is incentivized to adjust their behavior in a way that helps eliminate the shortage or surplus.

Instructions:Hold up your written work sheets to the camera…

Instructions:Hold up your written work sheets to the camera to record an image of it.Scan each sheet of your written work. You may use a scanner or your phone/tablet camera to scan your work. Include your formula sheet with your written work.If using a phone or tablet for scanning, transfer your file(s) onto your computer with Honorlock running. You can use the UND email or OneDrive tab that you opened in Step 1 or a desktop app such as ICloud or Dropbox or Google Drive. Note: Honorlock will not allow you to access other cloud drives through a browser.Create a PDF file of your written work – combine images into a single PDF file. You can do so by using your scanner’s installed software, directly on your phone using a scanning app, or using a desktop application such as MS Word or Pages. Note: Honorlock will block access third party websites (such as combinePDF.com) to combine and create a single PDF.Once you have the PDF file on your computer’s local drive, open it and scroll through each page slowly to record an image of your work on the Honorlock sccreen recording. Make sure to complete this step carefully since this may be used a backup in case of file corruption/Blackboard issues.Answer the Yes/No question below and click the continue button to proceed to the next question. DO NOT SUBMIT OR CLOSE YOUR TEST before answering all the questions.Question:I have created a single PDF of my written work and scrolled through it on my computer to record images of it on my Honorlock recording.

Part III – Application Consider the following excerpt from a…

Part III – Application Consider the following excerpt from a recent Wall Street Journal article entitled: “Europe Has a Painful Choice: War vs. Welfare”:  GÖRLITZ, Germany—When the Cold War ended, European governments slashed their military budgets and spent a windfall of several trillion dollars on social programs—a popular policy with voters when Europe faced few external threats and enjoyed the security protection of the U.S. Now, European nations are finding it difficult to give up those peacetime benefits, even as the war in Ukraine has revived Cold War-era tensions and the U.S. tries to shift its focus to China. Most are failing to get their armies in fighting shape. The lesson: It was easy to swap guns for butter; reversing the trend is far more challenging. What economic model can be used to explain this situation.  Be sure to discuss its key assumptions and define it.