In the Late 20th Century,how Have the Number of Vehicle

question 16

Multiple Choice

In the late 20th Century,how have the number of vehicle miles traveled (VMT) compared to the population trends in the U.S.?

• A) VMT decreased at the same rate as population.
• B) VMT decreased while the population increased.
• C) VMT increased at a slower rate than population.
• D) VMT increased that the same rate as population.
• E) VMT increased at a much faster rate.

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Definitions:

Socially Efficient Quantity

The level of production of a good or service that results in the optimal combination of economic efficiency and social welfare.

Market Equilibrium

A market state where the supply of goods matches demand, resulting in stable prices where the quantity of goods buyers are willing to buy equals the quantity sellers are willing to sell.

Output

The overall production of merchandise or services by a corporation, field, or the economic environment.

Quantity

The amount or number of a material or immaterial entity that is considered separately.