Which of the following statements is true with respect to renewable natural resources?
a. There are infinite quantities of renewable resources.
b. Proper management can only protect, not increase, the supply.
c. Conservation and proper use can protect and even increase the supply of renewable resources.
d. They cannot be completely destroyed since they can always regenerate.
e. They cannot exist since this would violate the scarcity principle.
C
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If a conflict of interest exists
A) it will always have serious adverse consequences. B) it may not have a serious adverse consequences if the incentive to take advantage of the conflict is low. C) the government needs to step in to pass legislation to remove the conflict. D) there will not be serious adverse consequences, even if the incentive to take advantage of the conflict is low.
Firms that contain some divisions that produce parts and components to be used by other divisions in order to generate finished goods are said to be:
A) horizontally integrated. B) vertically integrated. C) multinationals. D) corporations.
Which of the following is TRUE about the labor force?
A) It includes those over 16 ages old and are employed. B) It includes those over 16 ages old and are unemployed. C) Both A and B are correct. D) None of the above is correct.
As the housing bubble began to collapse, the wave of initial foreclosures led to:
A. banks no longer offering refinancing as an option, and home sales slowed. B. more foreclosures due to the herd instinct. C. more household saving in other forms. D. banks flooding the market with homes for sale, further depressing their price.