The finite nature of the economy's resource base:
A. will be solved if only we would learn to conserve.
B. is only a problem in developing countries.
C. will be solved as technology advances.
D. will always be with us.
Answer: D
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Marginal cost is the minimum price that producers must receive to induce them to produce another unit of a good or service
Indicate whether the statement is true or false
Two variables are negatively correlated if:
A. they move in the same direction. B. they move in the opposite direction. C. their movements tend to be unrelated. D. one is simply a multiple of the other.
The Save More Tomorrow (SMarT) program found all of the following except that:
A. participants quadrupled their savings in just a couple of years. B. if the default choice is to save a portion of income, people will save more. C. people were already saving at an optimal amount, so the program had no effect. D. people want to save more than they typically do.
When the interest rate rises, people are:
A. more likely to borrow, that is, sell a financial asset. B. less likely to borrow, that is, purchase a financial asset. C. less likely to borrow, that is, sell a financial asset. D. more likely to borrow, that is, purchase a financial asset.