Other Things Constant, an Increase in Resource Prices Will

question 86

Multiple Choice

Other things constant, an increase in resource prices will

• A) increase the demand for goods and services.
• B) increase the cost of producing goods and services, which will lead to a higher price level.
• C) reduce costs and improve profit margins, which will lead to an increase in aggregate supply in the goods and services market.
• D) cause the natural rate of unemployment to rise.

---

Definitions:

Kant

Refers to Immanuel Kant, an 18th-century German philosopher who made pivotal contributions to the development of modern philosophy, especially in the areas of epistemology and ethics.

Universalizability

The ability to be applied to everyone without exception. This is an essential feature of moral principles, according to Immanuel Kant and others.

Ethical Relativist

A belief that morality is not universal and what is considered morally right or wrong varies from culture to culture.

Female Circumcision

A cultural and religious practice involving the partial or total removal of the external female genitalia, often debated for its health implications and ethical concerns.