"Doomsday" Predictions About the Imminent Depletion of One or More

question 305

Multiple Choice

"Doomsday" predictions about the imminent depletion of one or more of our vital natural resources usually are

• A) correct but are not reflected by relative price changes within our market economy.
• B) overstated because of arithmetic calculation mistakes.
• C) overstated because they disregard human responses to relative price changes.
• D) understated because substitutes for such natural resources are also becoming less available.