Why do water supply problems exist in many parts of the world?
a. Efforts to build large-scale reservoirs in arid countries have stalled due to the enormous expense involved in completing these projects.
b. Water markets are missing or incomplete.
c. Global warming has increased the evaporation rate of water by over 10%.
d. The water supply is unfit for public consumption in many areas due to pollution.
B
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Which of the following best explains why a firm in a perfectly competitive market must take the price determined in the market?
a. The short-run average total costs of firms that are price takers will be constant. b. If a price taker increased its price, consumers would buy from other suppliers. c. Firms in a price-taker market will have to advertise in order to increase sales. d. There are no good substitutes for the product supplied by a firm that is a price taker.
When the Fed buys U.S. government securities from a bank, that bank's excess reserves and required reserves increase but total reserves decrease
a. True b. False Indicate whether the statement is true or false