Which of the following could explain a fall over time in the price of the depletable resource bauxite?
A. The productivity of bauxite mines fell.
B. New deposits of bauxite were discovered.
C. Demand for bauxite increased over time.
D. The cost of extraction increased.
Answer: B
You might also like to view...
Under federal tax law, employer-provided health insurance is not subject to taxation.
A. True B. False C. Uncertain
When variable A rises by 10 units, variable B rises by 15 units. The slope of the line describing this relationship is
a. always 2/3. b. either 2/3 or 1.5, depending on which variable goes on which axis of the graph. c. either 1.5 or ?1.5, depending on which variable goes on which axis. d. always ?1.5.
In 2012, the median income of U.S. families was about $86,000
a. True b. False Indicate whether the statement is true or false
The marginal revenue product curve shifts when
A. the wages paid exceed the price. B. wages fall. C. there is a change in the product price workers are producing. D. wages rise.