Exploiting a nonrenewable natural resource is likely to:
A. create more productive workers in all facets of the economy.
B. lead to a sustainable high rate of growth in income for a country.
C. lead to a higher level of income for a country.
D. All of these are true.
Answer: C
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The Fed usually prefers the inflation rate to hover around ________
A) 6% B) 10% C) 2% D) 5%
If the price elasticity of supply for a good is 10, then supply is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.
If a cigarette manufacturer sells its cigarettes to a distributor and contractually restricts the distributor from reselling the cigarettes outside the state of New York, this is an example of ________.
A) a tying arrangement B) territorial confinement C) a requirements contract D) exclusive dealing
Metering is
a. A type of indirect price discrimination b. A type of direct price discrimination c. An evaluation of a product d. An example of bundling