Economic theory predicted that the price of a depletable resource would rise by 10 percent. In reality, the price fell by 5 percent. Which of the following events could explain this discrepancy?
a. Known reserves of the resource were depleted.
b. The interest rate rose by 15 percent.
c. Antitrust enforcement broke up a cartel among major suppliers of the resource.
d. The government imposed an effective price floor.
c
Economics
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Only socialist economies need to answer the What, How, and For Whom questions
a. True b. False Indicate whether the statement is true or false
Economics
A currency depreciation is a(n):
A. increase in the official value of a currency in a fixed-exchange-rate system. B. increase in the value of a currency relative to other currencies. C. reduction in the official value of a currency in a fixed-exchange-rate system. D. decrease in the value of a currency relative to other currencies.
Economics