If the rate of extraction of a renewable resource is greater than its rate of replenishment, the price of the resource is likely to fall in future
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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The labor supply curve has a positive slope if the
A) substitution effect outweighs the income effect. B) income effect outweighs the substitution effect. C) demand for labor is elastic. D) demand for labor is inelastic.
Economics
An employee who retains earned pension benefits after leaving a job has a pension plan that is
A) whole life. B) guaranteed. C) vested. D) funded.
Economics