The Vast Majority of Water on the Earth Is Stored

question 52

Multiple Choice

The vast majority of water on the Earth is stored in

• A) ice sheets and glaciers.
• B) freshwater lakes and streams.
• C) the atmosphere.
• D) the oceans.
• E) groundwater.

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Definitions:

Expected Price Level

The anticipated average price of goods and services in an economy over a future period, which influences consumer and business decisions.

Long-Run Aggregate-Supply

The total output of an economy when all resources are fully employed, with prices of inputs and outputs able to adjust to any changes.

Real GDP

The inflation-adjusted value of all goods and services produced within a country's borders in a year, reflecting the actual productivity of an economy.

Price Level

An index reflecting the overall current prices for a wide range of goods and services within the economy, averaged out.