Economists predicted that the price of a depletable natural resource would rise by about 15 percent. Actually the price fell 10 percent. What most likely happened?
a. A government subsidy was removed.
b. Extraction costs increased.
c. Price controls were suspended.
d. An unexpected discovery of reserves was made.
d
Economics
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To compute the present value of a future value, you must know the ________ and the ________.
A. interest rate; time period B. compounding interest; time period C. interest rate; compounding interest D. None of these statements is true.
Economics
In order to increase the supply of a good, producers must
A. see an increase in quantity supplied by competitors. B. reduce their per-unit costs of producing the good. C. convince consumers to reduce the quantity demanded. D. cut back on labor to reduce production costs.
Economics