. An example of a nonrenewable resource would be:
A. trees.
B. rivers.
C. an oil deposit.
D. All of these are examples of nonrenewable resources.
C. an oil deposit.
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Refer to Table 14-4. If Alistair assumes that Baine would increase its advertising budget, what should it do?
A) Alistair should not change its advertising budget. B) Alistair should keep its own budget the same and allow Baine to incur the higher cost. C) Being a duopolist, Alistair is not affected by Baine's choices because it has a secure 50 percent market share. D) Alistair should also increase its advertising budget.
A firm uses ________ for goods which the consumer takes pride in owning
A) price skimming B) prestige pricing C) penetration pricing D) predatory pricing
A reserve requirement of 10 percent means a money multiplier of: a. 1
b. 9. c. 10. d. 11.1.
If demand is perfectly inelastic, a decrease in price results in a(n)
a. decrease in seller's total revenue b. increase in total seller's expenditure c. increase in expenditure on the good, but a decrease in revenue to the seller d. unfavorable shift in tastes and preferences e. increase in total revenue to the seller