ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 17, Problem 1.2P
To determine
The authorities find it difficult to regulate fishing activity in the ocean to maintain sustained yield.
Concept Introduction:
The renewable resources for which no restriction can be imposed and can be accessed by everyone are known as common pool resources. Common pool resources may be natural or man-made such as irrigation, fishing, etc.
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Consider the following statements: a. Fewer people are employed in Freedonia now than at any time in the past 75 years. b. The unemployment rate in Freedonia is lower now than it has been in 75 years.Can both of these statements be true at the same time?
A. Yes, these statements can be correct if more people are classified as "discouraged workers."B. No, these statements cannot be true since unemployment must increase as employment decreases.C. Yes, if the number of unemployed decreases more than the number of employed.D. Yes, both of these statements can be correct if labor productivity increases.
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