Economic theory posits that a resource which is finite and being depleted will rise in price continuously, and demand will be reduced. In fact, a recent study, graphing the price behavior of lead, zinc and copper found that until about 2007,
a. prices rose steadily, as predicted

The account that shows international transactions involving currently produced goods and services is called the

A) trade balance. B) current account. C) balance of payments. D) capital account.

Exhibit 15-1 Production possibilities curves In Exhibit 15-1, the production possibilities curves of wheat and corn for Nabia and Pada are presented. If both countries specialize in one good and trade for the other, :

A. Nabia and Pada will be able to consume at a point to the right of their respective production possibilities curves. B. Nabia will be able to consume, at the most, the combination represented by point A. C. Pada will be able to consume, at the most, the combination represented by point B. D. the citizens of Nabia will consume only corn and the citizens of Pada will consume only wheat.