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QUESTION 6. Source: Coyne, Andrew. "The real reason a Big Three bailout is a bad idea.\" Macleans, 1 December 2008: 16. Print. Time period: Great Recession, U.S. Economy. Part A. Create a list of economic vocabulary found in the excerpt below. \". . . however long a bill of indictment might be brought against Big Auto, that's not why we should refuse its demands for a bailout. This isn't about punishing Detroit for its past misdeeds. It isn't even about the auto industry, as such. It's about the economy as a whole, and how scarce resources are allocated between competing uses. Ultimately, it's about physics: the simple, inescapable reality that more of one thing means less of another . . . But the cost of (such) subsidies is not borne only or even primarily by the taxpayer, but by all those industries and firms that don't get bailed out. It's what economists call the opportunity costs: all the capital (financial) that subsidy traps in one industry is capital (financial) denied to other industries; all the sales diverted to one firm are sales diverted from its rivals; all the jobs 'created' in one part of the economy are jobs destroyed elsewhere.\" NOTE: subsidy = usually a financial payment given to support a business or firm Part B. What is the example used in this article to illustrate the basic economic problem? Part C. What is the basic economic problem? Part D. What model would you use to illustrate the basic economic problem? Draw the model, label the axes using the choices presented by this example