The marginal cost of extraction of a nonrenewable resource increases with passage of time because:
a. the technology used in extraction depreciates in value.
b. the price of the product that uses this resource decreases.
c. the exchange rate in the international market appreciates.
d. the tragedy of commons problem arises.
e. the resource gradually becomes scarce.
e
Economics
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When the economy is on the steeper part of the short run aggregate supply curve, efforts to bring inflation down with monetary policy will be ____ successful and efforts to stimulate the economy will be ____ successful
a. More; more b. More; less c. Less; more d. Less; less
Economics
A completely and accurately anticipated expansionary monetary policy will increase real output in the short run but not in the long run
a. True b. False Indicate whether the statement is true or false
Economics