Which of the following is an example of a nonrenewable natural resource?
a. tin
b. petroleum
c. gold
d. All of the above are correct.
d
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Explain how free international trade tends to lead to factor price equalization under the assumptions of the HO model. What does this process predict about which groups should be in favor of or opposed to free international trade?
What will be an ideal response?
The losers when the United States institutes trade restrictions include
a. U.S. consumers of imported goods, U.S. producers who use imported intermediate goods, and, if other countries retaliate, U.S. exporters b. U.S. producers of goods that compete with imported goods only c. U.S. consumers of imported goods and U.S. producers of goods that compete with imported goods d. all U.S. producers of all goods and U.S. exporters e. only U.S. exporters
When income rises, total expenditures remain constant.
Answer the following statement true (T) or false (F)
Describe a tit-for-tat strategy.
What will be an ideal response?