In which of the following cases can we be certain that a natural resource has become scarcer?
a. both the demand for the resource and the supply of the resource have increased
b. both the demand for the resource and the supply of the resource have decreased
c. demand for the resource is unchanged and the supply of the resource has increased
d. the demand for the resource has decreased and the supply of the resource is unchanged
d
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A market structure in which a small number of producers compete against each other is
A) monopolistic competition. B) oligopoly. C) monopoly. D) perfect competition.
Which of the following statements is true?
A. The speculative demand for money at possible interest rates gives the demand for money curve its upward slope. B. There is an inverse relationship between the quantity of money demanded and the interest rate. C. According to the quantity theory of money, any change in the money supply will have no effect on the price level. D. The transactions demand for money is used as an insurance agent against unexpected needs.
The goals of monetary policy tend to be interrelated. For example, when the Fed pursues the goal of ________, it also can achieve the goal of ________ simultaneously
A) high employment; economic growth B) high employment; lowering government spending C) economic growth; a low current account deficit D) stability of financial markets; a low current account deficit
For economic analysis, the long run is any period in which all inputs are variable (regardless of the length of time involved).
Answer the following statement true (T) or false (F)