If Alternate Fuels for Vehicles Could Be Sustainably and Efficiently

question 60

Multiple Choice

If alternate fuels for vehicles could be sustainably and efficiently obtained by growing plants in the United States,we would expect

• A)more jobs for U.S.citizens.
• B)an increase in the balance-of-payment deficit.
• C)another U.S.economic recession.
• D)more oil would need to be pumped from offshore oil wells.

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Definitions:

Behavioral Economics

A field of economic research that examines psychological, cognitive, emotional, cultural, and social factors on economic decisions.

Loss Aversion

A principle in behavioral economics stating that individuals tend to prefer avoiding losses to acquiring equivalent gains.

Price Increase

A rise in the cost of goods or services over time, often measured as a percentage.

Quality Reduction

A decrease in the standard or grade of products or services, often as a cost-saving measure by producers.