Which of the Following Could Be Called a Virtue of Raising

question 92

Multiple Choice

Which of the following could be called a virtue of raising prices of depletable resources?

• A)It would discourage consumption and waste.
• B)It would stimulate more efficient use of resources.
• C)It would encourage innovation and discovery of alternatives.
• D)All of the above are true.

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Definitions:

Productivity Gains

Increases in the amount of output produced per unit of input, reflecting improvements in efficiency, technology, or processes.

Transferability

The ability of an asset to be transferred or converted easily from one individual to another without affecting its value.

Human Capital

A collection of proficiencies, knowledge, or invisible assets owned by individuals that can be leveraged to bring about economic prosperity for themselves, their work environments, or their community.

Compensating Differential

A difference in wages that compensates workers for undesirable aspects of a job, such as hazardous working conditions or undesirable hours.