The behavior of market prices over time indicates that natural resources are
a. a limit to economic growth.
b. unrelated to economic growth.
c. not a limit to economic growth.
d. the major determinant of productivity.
c
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If the economy is experiencing an economic boom, which point in the graph shown would likely represent this?
A. E1
B. E2
C. E3
D. E4
The Russian wheat crop fails, driving up wheat prices in the U.S. This is an example of:
A. idiosyncratic risk. B. quantifiable risk. C. diversification. D. systematic risk.
A nation's capital stock will decline, ceteris paribus, in all of the following situations except
A. Net investment is negative. B. The population increases faster than the capital stock. C. Depreciation exceeds gross investment. D. None of the choices are correct.
Define “consumer surplus.”
Please provide the best answer for the statement.