Which of the Following Statements Is True

question 3

Multiple Choice

Which of the following statements is true?

• A)World coal reserves are substantially smaller than petroleum reserves.
• B)The fossil fuel most readily available and abundant in the United States and Canada is petroleum.
• C)The United States has only enough proven oil supplies to last 4 years at current rates of consumption.
• D)World coal reserves are only large enough to provide power for about 100 years.
• E)Under normal operating conditions,you are likely to get a higher dose of radiation living next to a nuclear plant than a coal-burning plant.

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Definitions:

Deadweight Loss

A decline in economic efficiency resulting from the failure to achieve free market equilibrium for a good or service.

Total Revenue

The total amount of money a company generates from its business activities, often calculated by multiplying the price of goods or services by the quantity sold.

Policymaker

An individual or group responsible for making decisions and policies that affect a country's economy, society, or institution.

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved due to market inefficiencies or interventions.