What has happened to resource prices in the twentieth century and what do they reveal about resource scarcity?
Figure 17-3 from the textbook provides data on lead, zinc, and copper prices. These data suggest that these resources are not generally becoming more scarce in this century. Baumol and Blinder suggest that this price pattern for resources stems from three things: (1) unexpected discoveries of reserves whose existence was not previously suspected; (2) the invention of new methods of mining or refining, which significantly reduced extraction costs; and (3) price controls, which held some prices down or decreased them below what the market would have paid.
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Which of the following is NOT an asset of the Federal Reserve System?
A) mortgage-backed securities B) reserves of depository institutions C) U.S. government securities D) None of the above are correct because they are all assets of the Federal Reserve.
Which of the following is not part of the "taxes" provision of the Patient Protection and Affordable Care Act (ACA)?
A) Workers earning more than $200,000 pay higher Medicare payroll taxes. B) Investors earning more than $200,000 pay a new tax on their investment income. C) Pharmaceutical firms and health insurance firms pay new taxes. D) Beginning in 2018, all taxes on employer-provided health insurance plans will be reduced or eliminated.