Overfishing and extinction of species arise because of:
a. an abundance of natural resources.
b. communist countries.
c. the lack of incentive to take care of these species.
d. private ownership of these resources.
e. a high degree of economic freedom in all countries.
c
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People add to their stock of human capital
A) by being lucky. B) by currying favor with powerful people. C) by going to school. D) by practicing their skills. E) in all of the above ways.
Refer to Table 2-5. If the two countries specialize and trade, who should export lumber?
A) They should both be exporting lumber. B) Finland C) There is no basis for trade between the two countries. D) Estonia
Over time, nations tend to converge to
A) the same balanced growth path and same income per capita. B) the same balanced growth path but varying income per capita. C) different balanced growth paths but the same income per capita. D) different balanced growth paths because of varying income per capita.
Consider the production possibilities frontier in the figure shown. As more and more cars are produced the opportunity cost of producing more cars:
A. decreases then increases. B. stays the same. C. decreases. D. increases.