If a nonrenewable natural resource's price is expected to increase at a rate faster than the interest rate, then the supply today will
A) the supply today will increase.
B) the supply today will decrease.
C) the demand today will decrease.
D) the price today will fall.
B
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Kirk consumes normal goods. If Kirk's income decreases and the prices of all goods remain unchanged, in his new consumer equilibrium, his marginal utility from each good will ________ and his total utility will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
A country would tend to experience currency depreciation relative to other countries if: a. the profitability of investments within the country increases relative to the rest of the world. b. people in the foreign currency markets expect the value of the currency to rise in the near future. c. the foreign demand for its exports decreases
d. none of the above
During which period were government budget deficits quite large, but there was no corresponding surge of private saving?
a. in the mid-1970s b. in the mid-1980s c. in the mid-1990s d. in the mid-2000s
Suppose there is currently a tax of $50 per ticket on airline tickets. Sellers of airline tickets are required to pay the tax to the government. If the tax is reduced from $50 per ticket to $30 per ticket, then the
a. demand curve will shift upward by $20, and the price paid by buyers will decrease by less than $20. b. demand curve will shift upward by $20, and the price paid by buyers will decrease by $20. c. supply curve will shift downward by $20, and the effective price received by sellers will increase by less than $20. d. supply curve will shift downward by $20, and the effective price received by sellers will increase by $20.