An example of a renewable resource would be:
A. a river.
B. coal.
C. natural gas.
D. All of these are examples of renewable resources.
A. a river.
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"Good news" about an expenditure-related indicator means that
A) it is higher than its previous value. B) it is higher than it was expected to be. C) it is lower than its previous value. D) it rose faster than the rate of inflation.
Consider the production possibilities frontier displayed in the figure shown. The opportunity cost of a bushel of apples is:
A. 3/20 watermelons.
B. 1/20 watermelons.
C. 1/40 watermelons.
D. 1/30 watermelons.
The theory of comparative advantage is based on:
a. absolute opportunity costs. b. relative opportunity costs. c. total costs of production. d. the number of units produced by a firm. e. a comparison of marginal cost with average variable costs.
An example of splitting up the value chain would be the shipment of
a. refrigerators. b. cellular Phones. c. automotive dashboards. d. automobiles.