Which of the following statements is true?
a. Land is a natural-state resource.
b. The quantity of land in planet earth can be varied.
c. Harvested trees are considered to be land.
d. Minerals and metals are not land resources.
e. The oceans are not considered to be land.
A
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The tragedy of the commons is the tendency of a society to overuse and deplete open-access resources
Indicate whether the statement is true or false
The slope of the budget line
A. always equals 1. B. equals income divided by price. C. equals the ratio of the prices. D. decreases as we move from left to right.
Producer surplus is equal to the area
A) under the demand curve and above the supply curve. B) above the supply curve and below the price line. C) under the demand curve. D) under the supply curve. E) under the demand curve and above the price line.
When comparing across countries, the higher the rate of saving
A) the lower the level of per capita real Gross Domestic Product (GDP). B) the higher the level of per capita real Gross Domestic Product (GDP). C) the less industrialized the country. D) the lower the productivity rates.