The demand for a resource is derived from the consumer demand for the good or service produced by the resource
a. True
b. False
A
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Positive externalities can be more easily measured than negative externalities
Indicate whether the statement is true or false
Along the upward-sloping segment of the aggregate supply curve,
a. when real GDP increases, the price level rises b. when real GDP increases, the price level does not change c. when real GDP decreases, the price level rises d. when real GDP increases, the price level falls e. no relationship exists between changes in real GDP and changes in the price level
Which of the following refers to the extra cost of shifting to more expensive home production following the imposition of a tariff?
A. Revenue effect B. Deadweight loss C. Producer surplus D. Production effect
Ongoing economic growth in real GDP per person requires all of the following EXCEPT ________
A) investment in human capital B) the discovery of new technologies C) saving and investment in new capital D) population growth