Suppose That New Demands Greatly Reduce the Proved Reserves of Titanium

question 628

Multiple Choice

Suppose that new demands greatly reduce the proved reserves of titanium to unexpectedly low levels, and it appears that the new demands will continue. If the market price is unregulated, we should expect that the price will rise and

• A) increase exploration and encourage more effective recovery methods, resulting in additional new supplies of titanium.
• B) encourage consumers and manufacturers to conserve titanium.
• C) increase the incentive to find and use substitutes for titanium.
• D) All of the above.

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Definitions:

Hawaii Annexation

The process by which Hawaii became a part of the United States in 1898, marking the expansion of U.S. territory in the Pacific.

Congress

The legislative body of the United States government, consisting of two houses: the Senate and the House of Representatives, responsible for creating laws.

Desegregated Regiments

Military units in which members of different races are integrated, as opposed to segregated units which were racially divided.

Platt Amendment

An amendment to a U.S. Army appropriations bill in 1901, establishing the terms under which the United States would end its military occupation of Cuba and "guarantee" Cuban independence.