What is true of depletable resources is that
a. increasing scarcity leads to their total disappearance.
b. they are depleted by gradually using up the supply of homogeneous resources, every unit of which is equally available.
c. generally the most accessible and cheapest sources are used up so that new supplies become more costly.
d. their prices must rise at the average rate of inflation.
c
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The above figure shows the U.S. market for replacement cell phone batteries. With free trade, U.S. production is equal to ________ batteries per year. When a $2 tariff is in place, U.S. production is equal to ________ batteries per year
A) 100,000; 300,000 B) 100,000; 500,000 C) 300,000; 100,000 D) 300,000; 500,000 E) 900,000; 700,000
When demand is elastic
A) quantity demanded is very responsive to a change in price. B) quantity demanded is not very responsive to a change in price. C) the proportional change in quantity demanded is equal to the proportional change in price. D) producers react quickly to price changes.
What happens to the Canadian M2 money supply if there is an excess demand of 100 million euros in the foreign exchange market and the central bank intervenes to offset the excess? Assume the M2 money multiplier is 3
a. The Canadian M2 money supply falls by 300 million euros worth of Canadian dollars. b. The Canadian M2 money supply rises by 300 million euros worth of Canadian dollars. c. The Canadian M2 money supply might fall or rise. d. The Canadian M2 money supply rises by 100 million euros worth of Canadian dollars. e. The Canadian M2 money supply falls by 100 million euros worth of Canadian dollars.
If an exporter wants to limit the effect of possible changes in the exchange rate on the value of her exports, then she can adopt a strategy known as
A) floating. B) speculating. C) hedging. D) appreciating.