If the Market for a Nonrenewable Natural Resource Is Currently

question 61

Multiple Choice

If the market for a nonrenewable natural resource is currently in equilibrium, the price of the resource

• A)is equal to the value of marginal product of the resource.
• B)is expected to rise at a rate equal to the interest rate.
• C)is expected to fall at a rate equal to the interest rate.
• D)will actually rise at a rate equal to the interest rate.
• E)will actually fall at a rate equal to the interest rate.

---

Definitions:

Holder in Due Course

A person or entity that has acquired a negotiable instrument in good faith and for value, and thus has certain protections against defenses and claims that could be used against the original payee.

Stop-Payment Order

An order by a drawer that instructs the drawee bank not to pay an issued check.

UCC

The Uniform Commercial Code (UCC) is a set of laws that provide legal standards and regulations for commercial transactions and dealings across the United States.

ATM Machine

An Automated Teller Machine is an electronic banking outlet that allows customers to complete basic transactions without the need for a branch representative.