In 2007, the price of oil increased, which in turn caused the price of natural gas to rise. This can best be explained by saying that oil and natural gas are
What will be an ideal response?
substitute goods, and the higher price for oil increased the demand for natural gas.
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In the presence of asymmetric information, high-cost and low-cost customers are charged ?asymmetric prices.
Answer the following statement true (T) or false (F)
According to Figure 6.1, the period from 1996 to 2011 is particularly remarkable for the slow growth of ________
A) productivity B) labor input C) output D) capital input
Which of the following does not result in a change in the demand for foreign currency?
A. changes in the interest rate B. changes in income. C. changes in foreign currency supply. D. changes in tastes of foreign consumers.
To say that "the U.S. public debt is mostly held internally" is to say that:
A. only interest payments on the public debt are an economic burden. B. official figures understate the size of the public debt. C. the bulk of the public debt is owned by U.S. citizens and institutions. D. the public debt is equal to the land and building assets owned by the federal government.