The supply of antiques is highly inelastic so increases in demand have a large effect on increases in price.
Answer the following statement true (T) or false (F)
True
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The additional benefit of increasing some activity by one-unit is called the
A) scarcity. B) total benefit. C) opportunity cost. D) marginal benefit. E) unit cost/benefit.
If the Ricardo-Barro effect occurs, an ________ in saving finances the government budget deficit and the real interest rate ________
A) increase; remains the same B) decrease; increases C) increase; falls D) decrease; remains the same
You observe that more labor is employed and the wage rate increases. This set of events could have been the result of a
A) rightward shift of the labor demand curve. B) leftward shift of the labor supply curve. C) rightward shift of the labor supply curve. D) leftward shift of the labor demand curve.
A new fertilizer that is better suited to a nation's topography and climate is an example of a technological advance that is:
A. Capital-using B. Capital-saving C. Capital-intensive D. An in-kind investment