How are the economic forces that apply to renewable resources different than those that apply to non-renewable resources?
a. Non-renewable resources must be protected by government policies to prevent depletion.
b. Non-renewable resources do not have any substitutes so the economic forces are different than those for renewable resources..
c. Both renewable and non-renewable resources may become scarcer over time so the economic forces at work are similar.
d. Renewable resources are not subject to the laws of economics since the scarcity condition no longer holds.
C
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Suppose you are currently in the long position of a long-term bond. In this case, to hedge against a capital loss, you would enter into a ________ contract to ________ a long-term bond in the future
A) interest-rate forward; sell B) interest-rate forward; buy C) exchange-rate forward; buy D) exchange-rate forward; sell
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