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- 2011-8-5
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发表于 2011-8-6 16:52
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Q1、Which statement about renewable and non-renewable resources is most accurate?
A) Land is considered a renewable resource.
B) The supply curve for a non-renewable resource is perfectly elastic and the price is determined by demand for it.
C) The known stock of a non-renewable resource must decrease as the resource is used.
Correct answer is A)
Land is considered a renewable resource because using it in the present does not prevent its use in the future. The known stock of a non-renewable resource is fixed in the short term, but can increase in the long term as technology makes more of the resource accessible. The supply curve for a non-renewable resource is perfectly elastic at that price, and the quantity supplied is determined by demand.
Q2、Which of the following best describes the elasticities of supply for renewable and non-renewable resources?
Renewable resource Non-renewable resource
A) Perfectly inelastic Perfectly elastic
B) Inelastic Perfectly inelastic
C) Perfectly elastic Perfectly inelastic
Correct answer is A)
The supply (flow) of a renewable resource is fixed at any point in time. Therefore the supply is independent of price, or perfectly inelastic. Supply (stock) of a non-renewable resource is perfectly elastic, as the resource is supplied from its known stock at a price equal to the present value of its expected price in the next period.
Q3、The supply of a renewable resource is:
A) independent of price and perfectly elastic.
B) dependent on price and relatively elastic.
C) independent of price and perfectly inelastic.
Correct answer is C)
The supply of renewable resources over a period of time is fixed. The supply of renewable resources is, therefore, independent of price and perfectly inelastic |
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