Which one of the following is normally the cheapest way to address water shortages?
a. Expanded development of groundwater aquifers
b. Desalination
c. Building dams
d. Water conservation efforts
e. Creating a system of property rights
Answer: d. Water conservation efforts
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The Federal Reserve System has a network of how many Federal Reserve Banks?
A) 12 B) 36 C) 50 D) 84
Before the DVD, the VCR was a popular format for taping and replaying video. When the DVD was introduced, which of the following most accurately describes the long-run adjustment process in the VCR industry?
A) Costs increased, price increased, demand decreased, quantity decreased, profit decreased. B) Demand increased, costs increased, price increased, quantity increased, profit decreased. C) Demand decreased, quantity decreased, price decreased, profit decreased. D) Demand decreased, price decreased, quantity decreased, profit decreased.