The U.S. Federal expenditures for "pensions and income security" is dominated by:

Everything else held constant, a monetary contraction is characterized by ________ output and ________ interest rates

A) rising; rising B) rising; falling C) falling; rising D) falling; falling

Which of the following statements is true about the demand for and/or the supply of natural resources?

a. The supply curve for natural resources is more elastic in the long run than in the short run. b. The elasticity of demand for electricity, natural gas, and gasoline equals approximately 0.1 in both the short run and the long run. c. Natural resources are demanded by consumers and producers in steadily growing amounts, so future shortages are inevitable. d. The supply of many natural resources is finite; thus the long-run elasticity of supply must be zero.