The Logic of an OR Gate Is That___________

question 7

Multiple Choice

The logic of an OR gate is that___________ .

• A)if any input is low, the output also will be low
• B)if any input is low, the output will be high
• C)any high input will produce a high output
• D)if either but not both of its inputs is high it will have a high output

Calculate optimal resource extraction to maximize profits based on current and future prices.

Differentiate between renewable and nonrenewable natural resources.

Assess the economic viability of alternative fuels in relation to oil prices.

Define and understand the significance of user cost in natural resource economics.

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Definitions:

Cyclically Unemployed

Individuals who have lost their jobs due to downturns in the business cycle or economic recessions, as opposed to structural factors.

Price Index

An index number that shows how the weighted average price of a market basket of goods changes through time.

Market Basket

A selected set of goods and services used to track changes in prices and inflation over time.

Rate of Inflation

The percentage increase in the general price level of goods and services in an economy over a period of time, typically measured annually.