What Has Brought About What Some Experts Are Calling a New

question 95

Multiple Choice

What has brought about what some experts are calling a new era of oil and natural gas production in the United States?

• A) Higher market prices for oil
• B) More efficient distribution systems
• C) The development of shale oil extraction technologies
• D) The discovery of new oil sands
• E) The increasing use of horizontal drilling and hydraulic fracturing

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Definitions:

APC

Average Propensity to Consume, which measures the fraction of income that households spend on consumption rather than saving.

MPS

Stands for Marginal Propensity to Save, which is the ratio of the change in savings to the change in disposable income. It indicates how much of an additional income unit is saved rather than spent.

Capacity Utilization Rate

The percentage of an industry or economy's total potential output that is actually being realized at a given time.

Great Recession

A significant global economic downturn that took place approximately from 2007 to 2009, deeply affecting the world economy.