Historical trends in the prices of most natural resources compared to prices of other goods indicate that most natural resources have become scarcer over time
a. True
b. False
Indicate whether the statement is true or false
False
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Financial intermediaries, such as commercial banks, help borrowers, particularly small borrowers, by:
A. offering tax-preferred borrowing opportunities. B. eliminating the risk of borrowing. C. providing information to evaluate financial investments. D. providing credit that might otherwise not be available.
Economists assume the central goal of any business is to:
A. maximize revenues. B. minimize costs. C. maximize profit. D. maximize market share.
Suppose that the quantity of apples sold increases by 30 percent after the price of pears increases by 15 percent. What is the coefficient of cross elasticity of demand?
a. 3.0 b. 1.5 c. 0.2 d. 2.0 e. 0.3
Figure 14.1 shows three aggregate demand curves. A shift from curve AD1 to curve AD2 could be caused by a(n):
A. decrease in the money supply. B. increase in taxes. C. decrease in the price level. D. increase in government spending.