The proven-reserves figure used in most years-to-depletion calculations encompasses oil reserves that are ________ and ________ to extract

When interest rates fall, a bank that perfectly hedges its portfolio of Treasury securities in the futures market

A) suffers a loss. B) experiences a gain. C) has no change in its income. D) may either gain, lose or see no change in its income.

The payment made to an owner of a resource in excess of the opportunity cost of the resource is

a. economic rent b. economic profit c. wages d. interest e. opportunity cost