A decrease in the price of a resource would cause
a. producers to substitute other inputs for the resource.
b. the cost of products made from the resource to fall.
c. producers to use more of the resource.
d. none of the above.
e. both b and c above.
E
Economics
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According to liquidity preference theory, an increase in the price level would ________
A) increase the demand for real money balances B) decrease the supply of real money balances C) decrease the real interest rate D) all of the above E) none of the above
Economics
In the table shown above, the total cost of the market basket in 2010 was
A) $6.00. B) $8.50. C) $60.00. D) $85.00.
Economics