Which of the Following Is Correct Regarding the Northwest and Northeast

question 60

Multiple Choice

Which of the following is correct regarding the Northwest and Northeast Passages?

• A) Until recently, sea ice blocked the routes, making them unavailable for shipping.
• B) They have been used for shipping and circumnavigation since the 1800s.
• C) They have been blocked since 2007 by increasing ice.
• D) They are expected to remain open until 2015.

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Definitions:

Consumer Surplus

The disparity between what consumers are prepared and capable of paying for a product or service versus what they actually end up paying.

Total Expenditure

The sum amount of money spent by consumers to purchase a certain quantity of goods or services.

Point Price Elasticity

A measure of how responsive the quantity demanded of a good is to a change in its price at a specific point on the demand curve.

Artichokes

A variety of thistle cultivated for its edible flower buds.