Oil Is A(n) ____

question 73

Multiple Choice

Oil is a(n) ____.

• A) nonrenewable resource because it cannot be formed on human time scales
• B) renewable resource because it can be renewed through human processes
• C) inexhaustible resource because it is a form of stored solar energy
• D) ecosystem service because oil is a valuable commodity
• E) renewable resource because it can be used to make fertilizers that restore soil fertility

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Definitions:

Federal Reserve Act

The act of Congress that created the Federal Reserve System in 1913, establishing the central banking system of the United States.

Maximum Employment

An economic situation in which all available labor resources are being used in the most efficient way possible.

Stable Prices

A situation in the economy where prices of goods and services do not fluctuate significantly in the short term, contributing to economic stability.

Multiplier Effect

The additional shifts in aggregate demand that result when expansionary fiscal policy increases income and thereby increases consumer spending.