Why would an economist claim that "oil comes out of our minds"?
A) She wants to sound silly.
B) She wants to tell lies.
C) She wants to remind us that the recognition of useful resources is a product of our mental abilities.
D) She wants to sound like a really big and important theorist and could not care less about the facts of the real world.
C
Economics
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If, as a perfectly competitive industry expands, it can supply larger quantities only at a higher long-run equilibrium price, it is
A) a decreasing-cost industry. B) a fixed-cost industry. C) a constant-cost industry. D) an increasing-cost industry.
Economics
Mutual savings banks are owned by
A) shareholders. B) partners. C) depositors. D) foreign investors.
Economics