The people of Andres, a small fishing village in a country, are facing extremely difficult times as their source of livelihood is threatened. Unregulated by the government, the coastline was subject to overfishing for a long time, adversely affecting the stock of fish. The variety of fish has declined and it takes much longer to haul in a decent catch these days. People in Andres are worried that
they may have to migrate to other areas or look for alternative sources to earn a living. Which of the following is most similar to this scenario?
a. Oil producers hoard the extracted oil to increase prices.
b. Public highways get congested because they are nonexclusive.
c. Poaching of the Javan rhino for its priced horns in unprotected forest belts of Indonesia has led to its near extinction.
d. People in Jinbong village now have to pay to be able to fish in the local pond.
e. A farmer shifts from potato to corn cultivation because the latter offers more profits.
c
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Technically, the ECB has a dual mandate of price stability and support of the European economies; but in practice, it seems to favor ______ over ______.
A) lowering unemployment; controlling inflation B) promoting equality; lowering unemployment C) price stability; economic performance, growth, and employment D) women's rights; lower taxes on small business
Some agricultural sub-Saharan nations of Africa have overfarmed and overgrazed their land to the extent that significant portions of it have turned into desert. This suggests that:
A. the production possibilities curves of such nations are more bowed out from the origin. B. the production possibilities curves of such nations have shifted inward. C. the production possibilities curves of such nations have shifted outward. D. these nations are operating at some point outside of their production possibilities curves.