The Most Important Determinant of Resource Prices Is

question 8

Multiple Choice

The most important determinant of resource prices is:

• A)social customs
• B)intervention by governments
• C)the interaction of demand and supply
• D)intervention by labour unions
• E)intervention by landowners

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Definitions:

British Pound

The recognized monetary unit of the United Kingdom, also referred to as GBP (Great Britain Pound).

London Interbank Offer Rate

An interest rate average calculated from estimates submitted by the leading banks in London, used as a benchmark for lending rates worldwide.

Overnight Eurodollar Loans

Short-term loans between banks that use US dollars held in banks outside the United States, to be repaid the next business day.

Relative Purchasing Power

A concept that compares the ability of entities to buy the same goods or services with a specific amount of currency in different environments or time periods.