Economic Theory Indicates That the Economy Is Better Off Not

question 325

Multiple Choice

Economic theory indicates that the economy is better off not to produce proved reserves of a mineral "too quickly." By this, we mean that we

• A) prefer some bad luck in exploration efforts, rather than too much good luck in finding the resources.
• B) do not want the resource to be too abundantly available since this would reduce its price and GDP.
• C) want to use other nations' resources first, even if doing so is more costly.
• D) do not want to use additional resources for exploration if the present discounted value of the benefits is smaller than the cost.

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