If oil is considered a non-renewable resource, than oil is
a. an unlimited resource
b. a scarce resource.
c. not a productive resource.
d. has no opportunity cost.
b
Economics
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If a monopoly suddenly became a perfectly competitive industry, equilibrium output would _________, and the equilibrium price would _________.
a. increase; increase b. decrease; decrease c. increase; decrease d. decrease; increase
Economics
In the New Keynesian model, the central bank achieves its interest rate target
A) by announcing it. B) by closing the output gap. C) through money growth targeting. D) by the supplying the quantity of money demanded at the target interest rate.
Economics