Oil is considered:
A. a renewable resource.
B. a nonrenewable resource.
C. physical capital.
D. technology.
B. a nonrenewable resource.
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The table above gives the supply schedule for a product. Using the midpoint method, find the price elasticity of supply between points A and B, between B and C, between C and D, and between D and E
What will be an ideal response?
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and the monetary base in the context of the Three-Sector-Model?
a. The quantity of real loanable funds rises and monetary base rises. b. The quantity of real loanable funds falls and monetary base rises. c. The quantity of real loanable funds falls and monetary base falls. d. The quantity of real loanable funds and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
In terms of the production possibilities curve, inefficiency is represented by
A. All points inside the curve. B. A rightward shift of the curve. C. All points outside the curve. D. All points on the curve.
Which of the following is a strategy(ies) used by firms in monopolistically competitive industries to convince consumers that their product is better than their rivals' products?
A. Equity marketing B. Comparative advertising or niche marketing C. Comparative advertising D. Niche marketing