Fish are
a. always renewable resources
b. renewable resources whenever property rights are well defined
c. renewable resources if they are taken and replaced at rates that provide a steady supply
d. renewable resources only if they are replaced at a rate that exceeds the rate at which they are caught
e. renewable resources whenever property rights are well defined and can be easily enforced
C
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NIPA means
A) New Income and Price Accounting. B) National Investment and Productivity Approach. C) Neutral Increase of Production Allocation. D) National Income and Product Accounts.
Canada is a major world producer and exporter of wheat and a great percent of its GDP is derived from this one good. That's both good news and bad news for Canada. The good news is
a. that other countries have less of a target to retaliate on but the bad news is that they are most likely to retaliate b. that Canada can concentrate on principally one good but the bad news is that its comparative advantage changes when its absolute advantage changes c. that Canada can concentrate on principally one good but the bad news is that its absolute advantage changes when its comparative advantage changes d. that Canada gets substantial gains from trade but the bad news is that other countries may retaliate against all Canadian exports e. that Canada gets substantial gains from trade but the bad news is that price changes in wheat can erode much of the gains