Which one of the following statements is true?
a. A static reserve index will indicate a longer resource lifetime than an exponential reserve index
b. An exponential reserve index indicates a longer resource lifetime than a static reserve index
c. Eventually all sub-economic reserves of non-renewable resources will be depleted
d. Eventually all physical reserves of non-renewable resources will be depleted
e. Sub-economic resources or reserves can never become economic resources or reserves
f. All of the above.
g. None of the above.
Ans: a. A static reserve index will indicate a longer resource lifetime than an exponential reserve index
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As Europe explored monetary union, evidence to date suggests that increased variability in exchange rates
A) reduces foreign trade and investment. B) increases foreign trade and investment. C) does not seem to have an impact on foreign trade and investment. D) hurts foreign investment but not trade. E) hurts foreign trade but not investment.
Which of the following represents the resource supply curve for a firm that hires resources in a perfectly competitive resource market?
a.? Average total cost curve b. ?Average variable cost curve c.? Average fixed cost curve d.? Marginal resource cost curve ?e.? Marginal revenue product curve
Author A accepts a $5,000 advance and a 10% royalty after 5,000 books are sold. Author B foregoes the advance and negotiates for a 15% royalty on all books sold. Author C decides to self publish his book and keep 50% of all sales revenue. In what order of risk aversion (from most to least) would you rank these authors?
A) Author A, Author B, Author C B) Author A, Author C, Author B C) Author B, Author A, Author C D) Author C, Author B, Author A
When inflation comes from the supply side, inflation and unemployment are positively correlated. Does this mean that monetary and fiscal policymakers can escape the trade-off between inflation and unemployment?
What will be an ideal response?