accounting for all possible simultaneous changes. holding constant all factors that affect demand except one. observing the real world. holding technology and resource prices constant. holding one input constant while changing the other input
Which of the following would be described as capital by an economist? (Points : 1)
Government bonds Corporate bonds Petroleum reserves owned by a corporation Common stocks traded on a national exchange The power lift in a service station
If there is a need to increase the quantity and supply of oil, the most effective way to get it quickly is to (Points : 1)
improve technology. reduce the prices of the resources that produce oil. increase the price of oil. put a limit on the price of oil. ban imports.
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