If the price of a resource reaches the choke price, that means that
a. The physical reserves are zero
b. The economic reserves are zero
c. The environmental costs have been fully internalized
d. Environmental costs need to be internalized
e. Prices will continue to fall
Answer: b. The economic reserves are zero
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If the Kyoto Protocol requires developed countries to reduce emissions of greenhouse gases, but developing countries are not required to do so, why might a developed country still agree? Should it?
What will be an ideal response?
With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. As a result
A) the average duration of unemployment is longer in the United States than in Canada. B) the unemployment rate in Canada is usually higher than in the United States. C) the opportunity cost of job search in Canada is lower than in the United States. D) frictional unemployment is higher, on average, in the United States than in Canada.