Supporters of the Keystone XL Pipeline Contend That It Will

question 31

Multiple Choice

Supporters of the Keystone XL pipeline contend that it will reduce the importation of "conflict" oil which

• A) comes to the United States from countries in the Middle East without liberties due to repressive governments.
• B) comes to the United States from countries that are ruled by dictators.
• C) comes to the United States from the oil sands of Canada.
• D) comes from the Gulf of Mexico.
• E) Options A and B are true.

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Definitions:

Total Output

The total quantity of goods or services produced by a firm or economy.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Variable Costs

Expenses that vary directly with the level of production or volume of output.

Average Variable Cost

The total variable cost divided by the quantity of output produced, showing how variable costs change with output levels.