A phrase that refers to the trade-offs

that nations face when choosing whether to

produce more or less military or consumer

goods is

(A) Shortage or scarcity.

(B) Physical capital.

(C) Guns or butter.

(D) Swords or plowshares.

The correct answer is C

Explanation:

Guns and butter is policy of the economy, where the decision of whether the country is more interested in spending the money on people. It states or explains the relationship among the investment of the nation in defense and the civilian goods.

But in business, guns and butter, will be a phrase which states the trade - off the nations face while selecting to produce or manufacture more or less military or the consumer goods.