A resource that is a common property is
A) oil on land owned by a drilling and refining company.
B) natural gas on land owned by an energy producer.
C) timber on land owned by a lumber company.
D) water in a publicly owned river.
D
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The major factor distinguishing M1 from M2 is:
a. Legal tender status. b. Liquidity. c. Whether or not the financial asset is backed by gold, silver, or some other precious metal. d. Whether or not the financial asset can be turned into a precious metal quickly and without substantial loss of value. e. All of the above are important distinguishing factors.
The crowding-out effect refers to the situation where
A. foreign spending is favored over domestic spending. B. government borrowing reduces private sector borrowing and spending. C. the United States Treasury prints new money that the government uses to force increases in private investment. D. the creation of large amounts of money to finance government borrowing produces an inflation that forces private spending to decrease.