Economic theory posits that a resource which is finite and being depleted will rise in price continuously, and demand will be reduced. In fact, a recent study, graphing the price behavior of lead, zinc and copper found that until about 2007,
a. prices rose steadily, as predicted
b. prices dropped precipitously.
c. prices remained remarkably stable.
d. prices were up and down with no discernible pattern.
c
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Who has regulatory responsibility when a bank operates branches in many countries?
A) It is not always clear. B) the WTO C) the U.S. Federal Reserve System D) the first country to submit an application
When the economy is experiencing inflation, an economist who follows the functional finance theorem is most likely to suggest that the government should:
A. run a balanced budget. B. run a deficit. C. do nothing. D. run a surplus.
At the current price of a good, Al's consumer surplus equals 8, and Ben's consumer surplus equals 15. By using two-part pricing, a monopolist could increase his profit by
A) 8. B) 16. C) 15. D) 30.
Which of the following methods of encouraging recycling is likely to be most effective?
A) All three methods are equally effective. B) appealing to the consumers to "be a good citizen" C) publicizing the advantages of recycling D) imposing a tax per unit of garbage generated