Refer to the above graph. If the current market price rises from $60 to $70 and user costs are not considered, the extraction quantity:
Refer to the above graph. If the current market price rises from $60 to $70 and user costs are ot considered, the extraction quantity:
A. Rises by 10 units to 20 units
B. Falls by 10 units to 20 units
C. Rises by 10 units to 40 units
D. Falls by 20 units to 10 units
C. Rises by 10 units to 40 units
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Suppose the real interest rate is 4% and the expected inflation rate is 3%. If the money supply increases by 10% and output, the real interest rate, and the expected inflation rate are unchanged, then the price level increases by
A) 3%. B) 4%. C) 7%. D) 10%.
Efficient voting outcomes would assign weights to each vote that are:
A) equal. B) egalitarian. C) higher for the median voter and lower for other voters. D) proportional to the voter's strength of preference.
For a typical consumer, most indifference curves are downward sloping
a. True b. False Indicate whether the statement is true or false
If we assume a ten percent required reserve rate, and banks not holding any excess reserves and no change in currency holdings, an open market sale of $5 million of U.S. Treasury securities by the Fed, will result in deposits:
A. decreasing by $50 million. B. increasing by $5 million. C. not changing. D. increasing by $50 million.