On December 26,2004,a Magnitude 9 Earthquake Generated a Tsunami That

question 4

Multiple Choice

On December 26,2004,a magnitude 9 earthquake generated a tsunami that devastated coastlines on the ____________ Ocean.

• A) Atlantic
• B) Arctic
• C) Indian
• D) Pacific

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Definitions:

Short Run

In microeconomics, a period of time in which producers are able to change the quantities of some but not all of the resources they employ; a period in which some resources (usually plant) are fixed and some are variable.

Profits

The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Long Run

In microeconomics, a period of time long enough to enable producers of a product to change the quantities of all the resources they employ, so that all resources and costs are variable and no resources or costs are fixed.

Production Plant

A facility or set of facilities where goods are manufactured or assembled primarily from raw materials.