The Deregulation of Oil Pricing Will

question 74

Multiple Choice

The deregulation of oil pricing will

• A)increase our dependence on foreign oil.
• B)make the United States energy independent by the year 2000.
• C)decrease domestic production.
• D)decrease the extent of the nation's dependence on foreign oil.

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Definitions:

Marginal Benefit

The enhancement in satisfaction or utility that comes from acquiring or making an additional unit of a product or service.

Pollution Control

The implementation of measures to reduce or eliminate the emission of pollutants into the environment.

Pollution Abatement

Measures and efforts taken to reduce, control, or eliminate pollution from a particular source.

Negative Externalities

Costs that are suffered by a third party as a result of an economic transaction that they were not directly involved in.