Which of the Following Is Not True If the Rate

question 65

Multiple Choice

Which of the following is not true if the rate of global consumption continues to grow exponentially at 2% per year?

• A)Saudi Arabian proven reserves would last 7 years
• B)proven reserves under Alaska's North Slope would meet U.S.demand for 3 years
• C)Alaska's ANWR unproven reserves would meet U.S.demand for 24 months
• D)the Bakken oil formation in the U.S.would last 10 years
• E)if people of China use as much as people of U.S.we need 7 more Saudi Arabias

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Definitions:

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not identical, allowing for competition on factors other than price.

McDonald's

A global fast-food restaurant chain known for its burgers, fries, and breakfast menus.

Fast-food Outlets

Quick service restaurants that serve food rapidly and are typically part of a large chain or franchise.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, leading to competition based on factors other than price.