An example of a nonrenewable resource would be:
A. an oil deposit.
B. rivers.
C. trees.
D. All of these are examples of nonrenewable resources.
Answer: A
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Private goods are not excludable.
Answer the following statement true (T) or false (F)
Jordan has the following assets and liabilities:Two cars$10,000House$200,000Mortgage$100,000Cash$1,000Car loans$3,000Checking account balance$2,000Credit card balance$1,000 What is the value of Jordan's assets?
A. $317,000 B. $213,000 C. $109,000 D. $203,000
Which of the following models has as its central idea that workers and firms have rational expectations?
A) the monetarist model B) the new classical model C) the real business cycle model D) the new Keynesian model
Suppose there are four industries. Labor costs are 20 percent of total costs in A, 40 percent in B, 60 percent in C, and 80 percent in D. A ten percent increase in the price of labor will cause industry ________ to reduce quantity demanded of labor by
the largest proportion. A) A B) B C) C D) D