Question 5 {2 points) Saved Explain why you agree or disagree with the following statement: Since lCanada only has approximately 38 million people it is not constrained by scarcity, while India which has approximately 1.4 billion people: is constrained by scarcity. Question 1 {2 points) Which of the following is FALSE statement? Explain why. 1. Economists use economic models which are a description of some aspect of the economic world that includes only those influences that are required for analysis. 2. Economic models are especially useful when dealing with normative economic analysis. Question 2 {2 points) Which of the following statements is INCORRECT? Explain why. 1. Macroeconomics is a subfield of economics that examines the economy in the aggregate. 2. The determination of prices in individual markets is primarily a concern of microeconomics. 3. Microeconomics is the study of the national economy and the global economy. 4. Microeconomics is the branch of economics that studies the choices of individuals and businesses