This information is from a 2015 U.S. Energy Information Administration (EIA) report.
Oil Production
Short-Term Energy Outlook
January was the seventh consecutive month in which monthly average North Sea... crude oil prices decreased, reaching $48 per barrel, the lowest since March 2009. The price decline reflects continued growth in U.S. oil production and strong global supply, amid weaker global oil demand growth. This contributed to rising global oil inventories. In January, estimated total commercial oil inventories reached their highest level since August 2010.
Gasoline Prices
Driven largely by falling crude oil prices, U.S. weekly regular gasoline retail prices averaged $2.04 per gallon on January 26, the lowest since April 6, 2009. EIA expects U.S. regular gasoline retail prices, which averaged $3.36 per gallon in 2014, to average $2.33 per gallon in 2015. The average household is now expected to spend about $750 less for gasoline in 2015 compared with last year because of lower prices. The projected regular gasoline retail price increases to an average of $2.73 per gallon in 2016.
Which statement best explains the situation described in the paragraphs?
- A. Crude oil prices in 2014 encouraged U.S. families to buy less gasoline in 2015.
- B. Crude oil production levels have caused U.S. gasoline prices to fall.
- C. Greater crude oil reserves have caused the U.S. government to reduce gasoline prices.
- D. Lower crude oil production will cause U.S. gasoline prices to return to 2014 levels by 2016.
Correct Answer & Rationale
Correct Answer: B
Option B accurately reflects the relationship between crude oil production levels and gasoline prices. Increased production typically leads to lower prices, as supply outstrips demand. Option A incorrectly suggests a direct correlation between crude oil prices in 2014 and gasoline purchases in 2015, neglecting the influence of production levels. Option C misrepresents the role of reserves; while greater reserves can impact prices, it is production levels that directly affect market prices. Option D speculates on future price increases due to lower production, which is uncertain and not directly supported by the information provided.
Option B accurately reflects the relationship between crude oil production levels and gasoline prices. Increased production typically leads to lower prices, as supply outstrips demand. Option A incorrectly suggests a direct correlation between crude oil prices in 2014 and gasoline purchases in 2015, neglecting the influence of production levels. Option C misrepresents the role of reserves; while greater reserves can impact prices, it is production levels that directly affect market prices. Option D speculates on future price increases due to lower production, which is uncertain and not directly supported by the information provided.
Other Related Questions
Which statement best describes the action of the people in the photograph?
- A. They are utilizing an 8th Amendment right to secure the release of a colleague who was jailed unfairly.
- B. They are utilizing a 6th Amendment right to secure a fair trial for a jailed associate.
- C. They are utilizing a 1st Amendment right to secure equality under the law.
- D. They are utilizing a 14th Amendment right to secure the opportunity to vote in federal elections.
Correct Answer & Rationale
Correct Answer: C
The action depicted in the photograph aligns with the 1st Amendment, which guarantees freedoms concerning speech, assembly, and the right to petition the government. The individuals are likely advocating for equality under the law, a fundamental principle of democratic society. Option A incorrectly references the 8th Amendment, which focuses on protection against excessive bail and cruel punishment, not the right to protest for a colleague's release. Option B misapplies the 6th Amendment, which ensures the right to a fair trial, rather than addressing broader issues of equality. Option D inaccurately connects the situation to the 14th Amendment, which deals with citizenship rights and equal protection, not specifically voting rights.
The action depicted in the photograph aligns with the 1st Amendment, which guarantees freedoms concerning speech, assembly, and the right to petition the government. The individuals are likely advocating for equality under the law, a fundamental principle of democratic society. Option A incorrectly references the 8th Amendment, which focuses on protection against excessive bail and cruel punishment, not the right to protest for a colleague's release. Option B misapplies the 6th Amendment, which ensures the right to a fair trial, rather than addressing broader issues of equality. Option D inaccurately connects the situation to the 14th Amendment, which deals with citizenship rights and equal protection, not specifically voting rights.
Based on the excerpt, which conclusion can be drawn about the U.S. Constitution and the Bill of Rights?
- A. Ratification of the Bill of Rights was completed before the Constitution was drafted.
- B. Ratification of the Constitution was dependent on the passage of the Bill of Rights.
- C. Most leaders were worried that the Bill of Rights would weaken the ruling class protected by the Constitution.
- D. Many leaders were concerned that the Bill of Rights would upset the balance of powers outlined in the Constitution.
Correct Answer & Rationale
Correct Answer: B
The conclusion that ratification of the Constitution was dependent on the passage of the Bill of Rights is supported by historical context, as many states required assurance of individual rights to approve the Constitution. Option A is incorrect because the Bill of Rights was introduced after the Constitution was drafted. Option C misrepresents the intent of the Bill of Rights; leaders were primarily concerned with protecting individual liberties rather than preserving the ruling class. Option D is also inaccurate, as the Bill of Rights aimed to safeguard citizens' rights without disrupting the balance of powers established by the Constitution.
The conclusion that ratification of the Constitution was dependent on the passage of the Bill of Rights is supported by historical context, as many states required assurance of individual rights to approve the Constitution. Option A is incorrect because the Bill of Rights was introduced after the Constitution was drafted. Option C misrepresents the intent of the Bill of Rights; leaders were primarily concerned with protecting individual liberties rather than preserving the ruling class. Option D is also inaccurate, as the Bill of Rights aimed to safeguard citizens' rights without disrupting the balance of powers established by the Constitution.
What is the mean number of people who became legal residents of the United States during this five-year period?
- A. 1,119,823
- B. 223,504
- C. 5,599,113
- D. 1,107,126
Correct Answer & Rationale
Correct Answer: A
To determine the mean number of legal residents over the five-year period, one must sum the total number of residents and divide by five. The correct calculation yields a mean of 1,119,823, reflecting the average annual influx. Option B (223,504) represents a miscalculation, likely reflecting a single year's data rather than an average. Option C (5,599,113) incorrectly totals the residents without division, suggesting a cumulative number rather than an average. Option D (1,107,126) is close but does not accurately reflect the mean, indicating a minor arithmetic error.
To determine the mean number of legal residents over the five-year period, one must sum the total number of residents and divide by five. The correct calculation yields a mean of 1,119,823, reflecting the average annual influx. Option B (223,504) represents a miscalculation, likely reflecting a single year's data rather than an average. Option C (5,599,113) incorrectly totals the residents without division, suggesting a cumulative number rather than an average. Option D (1,107,126) is close but does not accurately reflect the mean, indicating a minor arithmetic error.
Which event counters the viewpoint expressed in the newspaper excerpt that African Americans refused to defend their civil rights?
- A. the ratification of the 13th, 14th, and 15th Amendments
- B. the issuance of the Emancipation Proclamation
- C. the founding of the National Association for the Advancement of Colored People
- D. the start of the Great Migration
Correct Answer & Rationale
Correct Answer: C
The founding of the National Association for the Advancement of Colored People (NAACP) directly counters the viewpoint that African Americans refused to defend their civil rights. Established in 1909, the NAACP actively fought for civil rights through legal challenges, advocacy, and public education, demonstrating a strong commitment to defending their rights. Option A, the ratification of the 13th, 14th, and 15th Amendments, although significant, primarily established legal rights rather than showcasing active defense. Option B, the Emancipation Proclamation, ended slavery but did not directly address civil rights activism. Option D, the Great Migration, reflects a movement for better opportunities but does not specifically illustrate organized efforts to defend civil rights.
The founding of the National Association for the Advancement of Colored People (NAACP) directly counters the viewpoint that African Americans refused to defend their civil rights. Established in 1909, the NAACP actively fought for civil rights through legal challenges, advocacy, and public education, demonstrating a strong commitment to defending their rights. Option A, the ratification of the 13th, 14th, and 15th Amendments, although significant, primarily established legal rights rather than showcasing active defense. Option B, the Emancipation Proclamation, ended slavery but did not directly address civil rights activism. Option D, the Great Migration, reflects a movement for better opportunities but does not specifically illustrate organized efforts to defend civil rights.