Predictions of Severe Shortages Due to Impending Natural Resource Depletion

question 205

Multiple Choice

Predictions of severe shortages due to impending natural resource depletion

• A) are widely accepted by resource economists even though such predictions are a relatively new occurrence.
• B) have been wrong in the past, but most resource economists believe that the threat of resource depletion is now far more severe than ever before.
• C) are typically made without adequate recognition and consideration of resource price elasticities.
• D) typically assume that price elasticities are greater than they really are.

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