Answer the following questions true (T) or false (F)
1. If groundwater resources are regulated by the "rule of capture," whoever can pump up the water can take as much as they desire. This approach leads to an economically inefficient use of groundwater.
2. The rationale for the government intervening in the U.S. farm sector includes supporting/protecting an infant industry.
3. The farm sector is one of the most highly capitalized sectors per worker in the U.S. economy.
1. TRUE
2. FALSE
3. TRUE
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A decrease in the demand for dollars on the foreign exchange market, all else equal, will result in:
A) appreciation of the U.S. dollar and depreciation of the foreign currency. B) appreciation of the U.S. dollar and appreciation of the foreign currency. C) depreciation of the U.S. dollar and depreciation of the foreign currency. D) depreciation of the U.S. dollar and appreciation of the foreign currency.
An expansion in a country's capital stock is associated with a(n) _____
a. increase in potential GDP b. decline in future consumption c. increase in human capital d. decline in the rate of investment e. increase in national debt