In reality, prices of non-renewable resources have not increased continually according to the model developed in Section 16.3 because of
A) abundance of the resource.
B) technological progress changing marginal cost.
C) changing market power of producers.
D) All of the above.
D
You might also like to view...
Net interest payments made by the government depend on the total federal debt held and on the level of interest rates
Indicate whether the statement is true or false
The figure above shows the market for college education in the United States. If the government does not intervene in this market, the deadweight loss equals ________ per year
A) $28 billion B) $14 billion C) $280 billion D) $224 billion E) $7 billion
In the above table, the marginal product of the fourth worker is
A) 1. B) 3. C) 4. D) 6.
Prices are used in national income accounting for all of the following reasons except to
A. Compare the value of output of one period with that of another. B. Add the values of output from different sectors of the economy. C. Provide an index to measure unemployment. D. Provide an index to measure the rate of inflation.