111 B. Reviewing key Terms Read the statements below. In the space provided, write Tif the statement is true or Fif it is false. 7. Price and quantity supplied are variables on a supply schedule. 8. A supply curve shows price and quantity in a table. 9. Elasticity of supply states that the output of a good increases as the price of the good increases. 10. To create a market supply schedule, an economist needs to know the total output of all suppliers in a given market.​

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.