Federal support for road building into publicly owned commercial forests has caused
a. an increase in the supply of timber.
b. an increase in the demand for timber.
c. higher timber prices.
d. a shortage of timber.
e. All of the above.
a. an increase in the supply of timber.
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Measuring expenditures and income with the price level allowed to vary, so that changes in these values represent changes in either the actual amount of goods, services, and income or changes in the price level or a combination of both factors is
denoted in ________ terms. A) nominal B) real C) constant dollar D) all of the above
Newly-privatized firms in Eastern Europe require __________ investor monitoring, which suggests the relative desirability of a __________-oriented financial system
A) heavy; banking B) heavy; markets C) little or no; banking D) little or no; markets
Monica consumes only goods A and B
Suppose that her marginal utility from consuming good A is equal to 1/Qa, and her marginal utility from consuming good B is 1/Qb. If the price of A is $0.50, the price of B is $4.00, and the Monica's income is $120.00, how much of good A will she purchase? A) 0 B) 12 C) 24 D) 48 E) 120
John Nash, the mathematician responsible for the Nash equilibrium, also proved that any reasonable bargaining outcome would
a. Split the gains from trade b. Allocate the gains from trade to the seller c. Allocate the gains from trade to the buyer d. All of the above