As the price paid to a resource increases,
a. the supply of that resource will increase in the resource market.
b. the supply of that resource will decrease in the resource market.
c. resources will shift from other resource markets to this one.
d. resources will shift from this resource market to others.
e. resource usage will be unaffected.
C
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Which of the following is true?
A) The market demand curve for a public good has a positive slope. B) The market demand curve for a private good has a positive slope. C) The market demand curve for a public good is arrived at by the horizontal sum of individual demand curves. D) The market demand curve for a public good is arrived at by the vertical sum of individual demand curves.
An ATS account
A) converts a corporation's checking account balance at the end of the day into an overnight repurchase agreement. B) is the name given to NOW accounts outside of New England. C) are negotiable certificates of deposit of less than $100,000. D) were used during the Great Depression by depositors who had lost faith in conventional checking accounts.
Which of the following transactions is included in GDP?
A. buying and selling of stocks and bonds B. government transfer payments C. the sales of houses produced in that given year D. sales of used goods
When production in an economy grows more quickly than the population in that economy, which of the following must be occurring?
A) Real GDP is falling. B) Incomes are growing at a slower rate than the population. C) Real GDP per capita is rising. D) Living standards are falling.