The Canals That Late 19th and Early 20th Observers Thought

question 24

Multiple Choice

The canals that late 19th and early 20th observers thought they saw on Mars turned out to be:

• A) optical illusions
• B) enormous cracks caused by extensive plate tectonics on Mars
• C) very narrow oceans of water
• D) huge chains of thousands of large volcanoes
• E) built by the same race of ancient martian engineers who constructed the "face on Mars"

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Definitions:

Supply Shock

A supply shock is an unexpected event that suddenly changes the supply of a product or commodity, leading to sudden changes in its price.

Recessionary Gap

A situation where the real Gross Domestic Product (GDP) is lower than the potential GDP, indicating underperformance in the economy.

Aggregate Demand Curve

A graphical representation of the relationship between the total demand for goods and services in an economy at different price levels.

Long-Run Aggregate Supply

The total quantity of goods and services an economy can produce when resources are fully employed, assuming constant technology and factors of production.