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anygoal [31]
3 years ago
6

Which statement is true? Inexhaustible resources are limited. Only tangible goods are scarce. Exhaustible resources are abundant

ly available. Exhaustible resources are scarce. Governments have unlimited money.
History
1 answer:
shutvik [7]3 years ago
7 0
Hey there!

Let's go through the answers you've been given:

"Inexhaustible resources are limited." An inexhaustible resource is essentially a resource that cannot be used up due to its abundance, or the large amount of it there is. Since it can't be used up, this statement doesn't make sense. 

"<span>Only tangible goods are scarce." Tangible goods can be defined as a physical merchandise or something that you use. This includes anything that you can find at a market, amongst many other tangible goods. Obviously, not every last thing you can find in a market will be scarce, so this statement doesn't make sense either. Also, on a side note, this statement may also be pointing out that only tangible resources are scarce as opposed to intangible resources, which is also not true. An intangible resource is can be a trade or a job that someone does for you. There are trades and jobs that fewer people do these days than in the past. These trades include jobs that have been replaced with modern machinery and no longer require people to do them. 

"</span><span>Exhaustible resources are abundantly available." This is the opposite of the first statement. Since the resources will be exhaustible, they can be used up, and therefore aren't necessarily abundantly available. Even if they are at this moment, they will eventually become scarce. That means that this statement doesn't make sense either. 

"</span><span>Exhaustible resources are scarce." This statement does make sense, based on the logic in the explanation from the last statement. I think this is your answer. 

</span><span>"Governments have unlimited money." Not sure how this one got thrown in the mix, but it's not true at all. At least in America and many other countries, there are laws that explicitly state that the government isn't allowed to just make a bunch of money. If we could, we wouldn't be in such debt, and budget cuts wouldn't have to be made like they are now. 

Based on all of that, I think your answer is the fourth statement. Hope this helped you out! :-)</span>
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1. According to Adam Smith, what determines the size of a society's industry?
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Adam Smith is known as father of economics. We get his ideas about economic development from his well-known book, “An Enquiry into the Nature and Causes of Wealth of Nations” (1976) which has tremendously influenced the thinking about economic growth and development.

We briefly explain below his ideas about economic development. We will study below that he advocated the policy of laissez faire, that is, non-intervention of government in economic activities of the individuals. He laid stress on individual freedom in conducting their economic affairs without any obstructions and restrictions by the Government. He advocated free trade among nations of the world and urged that all restrictions on foreign trade should be removed to promote international specialization so as to increase the incomes of the nations.

Aspects of Adam Smith’s Theory:

The crucial aspects of development theory as propounded by Adam Smith are – (1) division of labour and (2) capital accumulation. Productivity of labors increases through division of labour. The two factors that facilitate the use of more division of labour are capital accumulation and size of market. We explain below these factors in detail. Also learn about the relevance of Adam Smith’s Theory to developing countries.

Explanation:

Adam Smith is known as father of economics. We get his ideas about economic development from his well-known book, “An Enquiry into the Nature and Causes of Wealth of Nations” (1976) which has tremendously influenced the thinking about economic growth and development.

We briefly explain below his ideas about economic development. We will study below that he advocated the policy of laissez faire, that is, non-intervention of government in economic activities of the individuals. He laid stress on individual freedom in conducting their economic affairs without any obstructions and restrictions by the Government. He advocated free trade among nations of the world and urged that all restrictions on foreign trade should be removed to promote international specialization so as to increase the incomes of the nations.

Aspects of Adam Smith’s Theory:

The crucial aspects of development theory as propounded by Adam Smith are – (1) division of labour and (2) capital accumulation. Productivity of labors increases through division of labour. The two factors that facilitate the use of more division of labour are capital accumulation and size of market. We explain below these factors in detail. Also learn about the relevance of Adam Smith’s Theory to developing countries.

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Why is world war 1 more responsible for establishing the U.S as world power
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When World War I broke out across Europe in 1914, President Woodrow Wilson proclaimed the United States would remain neutral, and many Americans supported this policy of nonintervention. However, public opinion about neutrality started to change after the sinking of the British ocean liner Lusitania by a German U-boat in 1915; almost 2,000 people perished, including 128 Americans. Along with news of the Zimmerman telegram threatening an alliance between Germany and Mexico, Wilson asked Congress for a declaration of war against Germany. The U.S. officially entered the conflict on April 6, 1917.

World War I Begins

On June 28, 1914, Archduke Franz Ferdinand, heir to the throne of the Austro-Hungarian Empire, and his wife, Sophie, were assassinated by a Bosnian Serb nationalist in Sarajevo, the capital of the Austro-Hungarian province of Bosnia and Herzegovina.

One month later, on July 28, Austria-Hungary declared war on Serbia. Within a week, Russia, France, Belgium, Great Britain and Serbia had sided against Austria-Hungary and Germany, and the Great War, as it came to be known, was underway.

Germany and Austria-Hungary later teamed with the Ottoman Empire and Bulgaria and were referred to collectively as the Central Powers. Russia, France and Great Britain, the major Allied Powers, eventually were joined Italy, Japan and Portugal, among other nations.

On August 4, as World War I erupted across Europe, President Woodrow Wilson proclaimed America’s neutrality, stating the nation “must be neutral in fact as well as in name during these days that are to try men’s souls.”

With no vital interests at stake, many Americans supported this position. Additionally, the U.S. was home to a number of immigrants from countries at war with each other and Wilson wanted to avoid this becoming a divisive issue.

American companies, however, continue to ship food, raw materials and munitions to both the Allies and Central Powers, although trade between the Central Powers and the U.S. was severely curtailed by Britain’s naval blockade of Germany. U.S. banks also provided the warring nations with loans, the bulk of which went to the Allies.

The Lusitania Sinks

On May 7, 1915, a German submarine sank the British ocean liner Lusitania, resulting in the deaths of nearly 1,200 people, including 128 Americans. The incident strained diplomatic relations between Washington and Berlin and helped turn public opinion against Germany.

President Wilson demanded that the Germans stop unannounced submarine warfare; however, he didn’t believe the U.S. should take military action against Germany. Some Americans disagreed with this nonintervention policy, including former president Theodore Roosevelt, who criticized Wilson and advocated for going to war. Roosevelt promoted the Preparedness Movement, whose aim was to persuade the nation it must get ready for war.

On April 4, the Senate voted 82 to 6 to declare war. Two days later, on April 6, the House of Representatives voted 373 to 50 in favor of adopting a war resolution against Germany. (Among the dissenters was Rep. Jeannette Rankin of Montana, the first woman in Congress.) It was only the fourth time Congress had declared war; the others were the War of 1812, the War with Mexico in 1846 and the Spanish-American War of 1898.

In early 1917, the U.S. Army had just 133,000 members. That May, Congress passed the Selective Service Act, which reinstated the draft for the first time since the Civil War and led to some 2.8 million men being inducted into the U.S. military by the end of the Great War. Around 2 million more Americans voluntarily served in the armed forces during the conflict. The first U.S. infantry troops arrived on the European continent in June 1917; in October, the first American soldiers entered combat, in France. That December, the U.S. declared war against Austria-Hungary (America never was formally at war with the Ottoman Empire or Bulgaria). When the war concluded in November 1918, with a victory for the Allies.

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