Sellers are more willing to supply a good or service for which the profit is low than to supply a good or service for which the profit is high
a. True
b. False
Indicate whether the statement is true or false
False
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Two goods are substitutes when a decrease in the price of one good a. decreases the demand for the other good
b. decreases the quantity demanded of the other good. c. increases the demand for the other good. d. increases the quantity demanded of the other good.
A decrease in the price of a resource would cause
a. producers to substitute other inputs for the resource. b. the cost of products made from the resource to fall. c. producers to use more of the resource. d. none of the above. e. both b and c above.
During 1980-2009, the countries achieving the most rapid growth of real GDP were nearly all
What will be an ideal response?
Assuming that pollution cannot be removed from the environment at zero cost, the optimal level of pollution
A. will be zero. B. will be greater than zero. C. will be negative. D. cannot be determined.