1. If the interest rate rises, the owners of oil will supply ________ oil today and conserve ________ for the future.
A) more; less
B) less; more
C) more; more
D) less; less
2. An increase in the value that future consumers are expected to place on an exhaustible resource ________ the marginal cost of extraction and ________ the current price of the resource.
A) increases; increases
B) increases; decreases
C) decreases; increases
D) does not change; does not change