Even if demand for a resource grows over time, ever-rising prices of the resource that result from its growing scarcity still discourage consumption
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Assume that business investment spending rises, and the increase is funded by greater borrowing in the capital markets. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and current international transactions balance in the context of the Three-Sector-Model? a. The GDP Price Index falls and current international
transactions balance becomes more negative (or less positive). b. The GDP Price Index rises and current international transactions balance becomes more negative (or less positive). c. The GDP Price Index and current international transactions balance remain the same. d. The GDP Price Index rises and current international transactions balance remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
A demand curve shows the relationship between:
A. price and quantity demanded. B. the demand and supply schedules. C. demand and supply equilibrium. D. leakages and injections.
The medium of exchange is defined as
A) an object that is accepted in return for goods and services. B) the exchange of goods and services directly for goods and services. C) an item that can be stored and hold its value over time. D) credit cards. E) barter.
Which of the following is an example of monitoring and enforcement costs?
A) Isabel knows that other neighbors' sleep patterns must also be affected by the howling dogs in her neighborhood and sets out to find those neighbors. B) Isabel is bound and determined to to find out which of her neighbors owns the howling dogs that are preventing her from getting a full night's slee