Which of the following lowers the current price of an nonrenewable natural resource?
A) an increase in the interest rate
B) a decrease in the stock of the resource
C) an increase in the marginal revenue product of the resource
D) an increase in the price of a substitute resource
A
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Which of the following statements is true?
A) According to the labor supply curve, as the real wage rises, more workers leave the labor force. B) According to the labor supply curve, as the real wage rises, employers are willing to provide fewer jobs. C) According to the labor supply curve, as the real wage rises, workers are willing to provide fewer hours of labor. D) According to the labor supply curve, as the real wage rises, workers are willing to provide more hours of labor. E) According to the labor supply curve, as the real wage rises, employers are willing to provide more jobs.
A price cap regulation ________
A) is illegal B) is a price floor C) is a price ceiling D) encourages a firm to operate inefficiently
In the above figure, if price is equal to P4, the firm will
A) earn positive economic profits. B) incur an economic loss. C) earn zero economic profits. D) shut down.
The key variable in monetarism is the velocity of money.
Answer the following statement true (T) or false (F)