Rising prices for a natural resource stimulate
A. the development of complements for the resource.
B. the development of substitutes for the resource.
C. the development of externalities from the resource.
D. the tendency to consume before the resource expires.
Answer: B
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Which one of the following statements about public debt is most accurate?
a. Because rich and poor people hold government bonds, they are equally affected by the debt. b. Wealthy people are more likely to hold government bonds, and so they are less likely to be adversely affected by the debt c. Wealthy people are less likely to hold government bonds, and so they are more likely to be adversely affected by the debt. d. Poor people are more likely to hold government bonds, and so they are more likely to be adversely affected by the debt. e. Poor people are less likely to hold government bonds, and so they are less likely to be adversely affected by the debt.
Taxing buyers rather than sellers increases the market equilibrium price
a. True b. False Indicate whether the statement is true or false
Two variables that have a positive correlation move in the same direction
a. True b. False Indicate whether the statement is true or false
The recent growth records of Japan and Hong Kong during the last 50 years indicate that a nation can grow rapidly without:
A. securely defined property rights. B. adopting modern technology. C. significant capital formation. D. abundant domestic natural resources.