What is true of depletable resources is that
a. increasing scarcity leads to their total disappearance.
b. they are depleted by gradually using up the supply of homogeneous resources, every unit of which is equally available.
c. generally the most accessible and cheapest sources are used up so that new supplies become more costly.
d. their prices must rise at the average rate of inflation.
c
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A number of economists have estimated the impact of unionization on workers' wages. Which of the following is one conclusion reached by these studies?
A) Holding constant the impact of other factors that affect wages, being in a union has no impact on a worker's wages. B) Being in a union increases a worker's wages by about 10 percent, holding constant other factors that influence wages. C) Union workers earn less than they would if they were not unionized. This is because of the impact of workers' strikes, during which union members do not receive wages. D) The share of national income received by workers has increased significantly over time; unions have been responsible for about one-half of the increase in workers' share of national income from the end of World War II to 2000.
If the government sells U.S. Treasury bonds to finance its budget deficit, one would expect:
a. interest rates to rise. b. domestic investment to rise. c. tax rates to fall. d. inflation to rise. e. interest rates to fall.