An example of a nonrenewable resource would be:
A. Forests
B. Oceans
C. Gold ore
D. Solar energy
C. Gold ore
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The largest source of federal government revenue in 2014 was
A) individual income taxes. B) payroll taxes to fund Social Security and Medicare programs. C) sales taxes. D) corporate income taxes.
Assume an economy with an upward-sloping aggregate supply curve and an MPC of .80 . An increase in investment spending of $50 billion will most likely increase total income by
a. $200 billion. b. $40 billion. c. more than $200 billion. d. more than $50 billion but less than $250 billion.
A tax on sellers increases the quantity of the good sold in the market
a. True b. False Indicate whether the statement is true or false
Which of the following would cause an outward shift of aggregate demand?
a) an increase in interest rates b) an increase in tax rates c) the expectation of higher income d) improvements in technology e) an increase in imports