One of the virtues of rising resource prices is they encourage innovation, especially the discovery of other more abundant resources
a. True
b. False
Indicate whether the statement is true or false
True
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
What are the three criteria that are used to judge a central bank's independence and how does the Fed stack up to each of these criteria?
What will be an ideal response?
Which of the following will cause an inward shift of the investment function?
A. an increase in business taxes B. business people becoming optimistic about the future C. a decrease in the interest rate D. innovation that improves production efficiency at every level of output
Refer to the information provided in Figure 7.1 below to answer the following question(s). 
Figure 7.1Refer to Figure 7.1. A corn producer's profit is $200 and is producing 100 bushels of corn. Then he must have a cost per bushel of
A. $1. B. $2. C. $3. D. $4.