Suppose over the last year that the price of recycled aluminum increased from $800 a ton to $900 a ton. Over the same time a measure of the overall price level increased from 120 to 130. The price of recycled aluminum increased by
A) less than inflation, but this doesn't necessarily mean it became scarcer.
B) less than inflation, and this means it became scarcer.
C) more than inflation, and this means it became scarcer.
D) more than inflation, but this doesn't necessarily mean that it become scarcer.
Correct Answer:
Verified
Q85: In a market economy,we know that a
Q88: In which of the following cases can
Q90: Which of the following is an example
Q92: Historically,the market prices of most natural resources
Q94: In which of the following cases can
Q97: Which of the following is correct?
A)Once adjustment
Q98: If a good has become more scarce,then
Q110: Despite its status as one of the
Q113: If natural resources had become scarcer,then we
Q141: Suppose over the last year that the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents