Greater scarcity of a natural resource is indicated
a. by an increase in the price of the resource, whether the price increase is less than or greater than the rate of inflation.
b. only by an increase in the price of the resource that is less than the rate of inflation.
c. only by an increase in the price of the resource that is greater than the rate of inflation.
d. only by an increase in the price of the resource that is caused by a decrease in supply and is greater than the rate of inflation.
c
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Which of the following will limit the expansion of the money supply following a new deposit?
A) a re-depositing of all loan proceeds B) a strong demand for holding currency outside of commercial banks C) a strong demand for new loans D) failure of banks to voluntarily hold excess reserves
When there is a choice between the consumption of bundle X and bundle Y, the opportunity cost of consuming bundle X is bundle Y
a. True b. False Indicate whether the statement is true or false