Which two resources do realists see as particular sources of conflict in future collaboration and cooperation over the environment?
a. forests and natural vegetation
b. oil and water
c. oceans and minerals
d. farmland and livestock
b. oil and water
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A rightward shift in the demand curve for a product will ordinarily result from
A. a decrease in the advertising budget. B. a decrease in the price of a competing product. C. an increase in consumer income. D. an increase in the price of a complementary good.
Use the following two statements about monopolistic competition to answer this question
I. In the long run, the price of the good will equal the minimum of the average cost. II. In the short run, firms may earn a profit. A) I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) I and II are false.
Spending money on a new car instead of a used car when you are on a fixed budget is an example of:
A. the incursion of an opportunity cost. B. isolating variables. C. a bad thing to do because you run out of money. D. living on the edge.
Credit card balances are not considered to be money primarily because they
A. are not part of people's wealth. B. are an asset used in making transactions. C. are rarely used to make purchases. D. do not represent an obligation to pay someone else.