Economic Theory Posits That a Resource That Is Finite and Being

question 39

Multiple Choice

Economic theory posits that a resource that is finite and being depleted will rise in price continuously and demand will be reduced.In fact, a recent study, graphing the price behavior of lead, zinc, and copper found that until about 2007,

• A)prices rose steadily, as predicted.
• B)prices dropped precipitously.
• C)prices remained remarkably stable.
• D)prices were up and down with no discernible pattern.

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Definitions:

Privileges and Immunities

The rights and protections guaranteed by a state to its citizens and, in some cases, to residents, against discrimination from other states.

Privileges and Immunities

Rights and protections granted by law or constitution in a particular jurisdiction, often referring to the safeguards against discrimination towards citizens from other states.

Discriminating

Making a distinction in favor or against someone or something based on the group, class, or category rather than according to actual merit; often refers to unfair treatment based on prejudice.

Same-Sex Marriage

The legally recognized union between two individuals of the same sex, affording them the same rights and obligations as heterosexual marriage.