Which of the following is correct?
a. Once adjustment is made for inflation, the prices of most natural resources have been about steady or falling.
b. Technological progress has allowed us to substitute renewable resources for some nonrenewable resources.
c. Technological progress has made once-crucial natural resources less necessary.
d. All of the above are correct.
d
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Reserve targets and federal funds targets are compatible when the Federal Reserve wants to
A) lower interest rates and expand reserves. B) raise interest rates and the money supply. C) raise interest rates and reserves. D) contract interest rates and reserves.
From the Keynesian perspective, an exogenous increase in investment is likely to lead to
A) a decrease in interest rates. B) an increase in output. C) an increase in the money supply. D) a decrease in government spending.
If we know that the demand curve for good x fails to reflect the total value to society of that good, then we know that
a. the market for good x is characterized by an externality, but we cannot determine whether the externality is positive or negative from this fact alone. b. the market for good x is characterized by a positive externality. c. the market for good x is characterized by a negative externality. d. the supply curve for good x fails to reflect the cost to society of producing that good.
A point or combination that is on the production possibilities curve is:
A. Attainable and resources are fully employed B. Attainable, but some resources are unemployed C. Unattainable, but some resources are unemployed D. Attainable only if we get additional resources