Economists Are Optimistic That Growth Can Continue in the Face

question 232

Multiple Choice

Economists are optimistic that growth can continue in the face of resource scarcity because:

• A) the oil industry vastly understates the level of oil reserves.
• B) prices of scarce resources fall and provide incentives to use more of those resources.
• C) prices of scarce resources rise and provide incentives to find alternative energy sources.
• D) resource scarcity no longer limits economic growth.

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Definitions:

Autonomy Vs. Shame

A stage in Erik Erikson's theory of psychosocial development where toddlers develop a sense of personal control over physical skills and a sense of independence, or otherwise experience shame and doubt about their abilities.

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A stage in Erik Erikson's theory of psychosocial development where infants learn whether or not they can trust the people around them.

Identity Crisis

A period of uncertainty and confusion in which a person's sense of identity becomes insecure, typically due to a change in their expected aims or role in society.

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A life stage typically ranging from about 40 to 65 years old, characterized by stability, growth in career and family life, and facing the reality of aging.