The impact of an increase in oil prices stemming from the growth of demand is probably going to ____ the wages of petroleum engineers.
A. decrease
B. increase
C. leave unaffected
D. be impossible to predict
Answer: B
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The sum of currency and reserves of depository institutions is the ________
A) reserves of the Fed B) assets of the Fed C) monetary base D) vault cash
Scarcity means that: a. human desires are limited
b. resources are insufficient to satisfy all human desires. c. choices are unnecessary. d. all but the very wealthy must face choices.
Which of the following is not included in a nation's balance of payments?
a. International barter exchanges. b. International credits (loans). c. International shipping expenses. d. All the above are includedin the balance of payments.
According to the specialized-factor pattern, the more a factor is concentrated in the production of a product, the more it stands to gain from an increase in the price of this product.
Answer the following statement true (T) or false (F)