In March, 1989, the Exxon Valdez Collided with an Ocean

question 15

Multiple Choice

In March, 1989, the Exxon Valdez collided with an ocean reef near Alaska spilling more than 10 million gallons of oil. This is an example of

• A) land pollution.
• B) air pollution.
• C) industrial release and water pollution.
• D) corporate malfeasance.

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Definitions:

Foreign Exchange Market

A marketplace where currencies are traded internationally, allowing businesses and countries to convert currency for international trade and finance.

Aggregate Demand

The total demand for all goods and services in an economy at any given overall price level and in a given time period.

Price Level

A measure of the average prices of goods and services in an economy at a given time, often used as an indicator of inflation.

Short-Run Aggregate Supply Curve

A graphical representation that shows the relationship between the total supply of goods and services produced by a country at various price levels in the short-run.