What is true of depletable resources is that
A. increasing scarcity leads to their total disappearance.
B. they are depleted by gradually using up the supply of homogeneous resources, every unit of which is equally available.
C. generally the most accessible and cheapest sources are used up so that new supplies become more costly.
D. their prices must rise at the average rate of inflation.
Answer: C
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From the late 1860s until 1907 the U.S. averaged a four percent or more increase in the real value of the goods and services produced
Indicate whether the statement is true or false
For this question, assume that policy makers are pursuing a fixed exchange rate regime. Now suppose a budget is passed that calls for a reduction in government spending. This reduction in government spending will cause which of the following to occur?
A) a reduction in i and an increase in E B) a reduction in investment C) no change in output D) no change in net exports E) an increase in imports