once it becomes obvious that a common resource is being overused
What will be an ideal response?
as a period of time when at least one of the four factors of production is fixed
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If the world price for good A is below the domestic price for good A without trade, then the price the consumer pays for good A will ________ and the price the producer receives for good A will ________ with trade.
A. increase; increase B. decrease; decrease C. increase; decrease D. decrease; increase
When China builds a dam using few machines and a great deal of labor, it is answering the ________ part of one of the two big economic questions
A) "what" B) "how" C) "where" D) "for whom"
How can the Fed reduce the implicit tax on banks resulting from reserve requirements?
A) lowering the discount rate B) paying interest on reserves C) reducing the federal funds rate D) increasing the federal funds rate
Money does not solve the double coincidence of wants problem unless it is generally acceptable
a. True b. False Indicate whether the statement is true or false