Which of the following statements is (are) correct?
(x) In general, water in a large unpolluted freshwater lake is a better example of the definition of scarcity than drinking water in a city such as Burlington, North Carolina,
(y) All of the world’s economies, including the richest countries of Asia, Europe and North America, experience scarcity because wants are unlimited and resources are limited
(z) Guns and butter are used to represent the classic societal tradeoff between spending on national defense and consumer goods
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (z) only