Asked by
Shelby Shelton
on Dec 12, 2024
Verified
Data on world reserves of minerals, gathered by Blackman and Baumol, show that between 1950 and 2000, production of most minerals
A) greatly exceeded the reserves available in 1950.
B) declined as depletion occurred.
C) greatly reduced the reserves available in 2000.
D) was limited to a fraction of the reserves available in 1950.
Minerals
Naturally occurring, inorganic substances with a definite chemical composition and physical properties, found in the earth’s crust.
Reserves Available
The quantities of resources or commodities in storage or available for use.
- Comprehend the contribution of technological progress in augmenting the availability of natural resources.
- Comprehend the notion of "proved reserves" and its connection to the accessibility of resources.
Verified Answer
HK
Learning Objectives
- Comprehend the contribution of technological progress in augmenting the availability of natural resources.
- Comprehend the notion of "proved reserves" and its connection to the accessibility of resources.
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