Discuss the difference between renewable and nonrenewable resources. Given an example of each
What will be an ideal response?
A renewable natural resource can be used repeatedly; a nonrenewable natural resource can be used only once, and once a particular unit is used, it cannot be used again. Forestland, cropland, rivers, lakes, and wind power are examples of renewable natural resources. Examples of nonrenewable resources include coal and oil.
You might also like to view...
The sum of the current account plus the capital and financial account plus the official settlements account equals
A) 100 percent. B) U.S. official reserves. C) U.S. exports. D) zero. E) government expenditures.
Which of the following is an exogenous variable in the Three-Sector-Model?
a. Expected inflation b. Industry risk c. Country risk d. Real risk-free interest rate e. All of the above are exogenous variables.
Suppose that the prices of dairy products have risen relatively less than prices in general over the last several years. To which problem in the construction of the CPI is this situation most relevant?
a. substitution bias b. introduction of new goods c. unmeasured quality change d. income bias
For this question, assume that the economy is initially operating at the natural level of output. An increase in the price of oil will cause which of the following in the medium run?
A) a reduction in the interest rate B) a reduction in output and an increase in the aggregate price level C) a reduction in output and a reduction in the interest rate D) a reduction in unemployment, an increase in the nominal wage and an increase in the aggregate price level E) a reduction in the aggregate price level and no change in output