Which of the following could explain a fall over time in the price of the depletable resource aloe?
a. The productivity of aloe mines fell.
b. New deposits of aloe were discovered.
c. Demand for aloe increased over time.
d. All of the above are correct.
b
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Figure 11-1
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In Figure 11-1, a cost-reducing technological breakthrough in calculator production would cause which movement?
A. A to D B. A to C C. A to B D. A to E
Which formula below best expresses the real interest rate, (r)?
A. i = r - ?e B. r = i - ?e C. r = i + ?e D. ?e = i + r
An appreciation is:
A. a decrease in the value of currency. B. a decrease in the trade deficit. C. an increase in the trade surplus. D. an increase in the value of currency.
What development in the 1970s and 1980s is considered one of the most extensive experiments in industrial policy in the last half-century?
A. Extensive antitrust enforcement B. Increased breakups of monopolies C. Deregulation of industries D. Fostering natural monopolies