If the US Government Were to Relax Its Restrictions on Offshore Oil

question 287

Multiple Choice

If the U.S. government were to relax its restrictions on offshore oil well drilling and open drilling in Alaskan national parks, the result to aggregate supply would be to

• A)cause a shift in the SRAS to the left.
• B)cause a shift in the LRAS to the left.
• C)cause no long-term shifts in AS.
• D)cause a shift in both LRAS and SRAS to the right.

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Definitions:

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Anxiety

A feeling of worry, nervousness, or unease, typically about an imminent event or something with an uncertain outcome.

Evolutionary Theory

A theory that explains the diversity of life on Earth and the processes by which organisms change over generations through mechanisms such as natural selection and genetic drift.

Social Exclusion

The process or state where individuals or groups are systematically blocked from rights, opportunities, and resources that are normally available to members of a society.