The report that concluded that the world will run out of oil in about 40 years used which formula to calculate the number of years to depletion?
A) (proven reserves + unknown reserves) ÷ annual consumption = number of years to depletion
B) total reserves ÷ total consumption = number of years to depletion
C) proven reserves ÷ annual consumption = number of years to depletion
D) proven reserves ÷ unknown reserves = number of years to depletion
C
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Assume that in recent years the cost of producing microbrew beer in the U.S. has decreased largely due to technological improvements. At the same time, more and more Americans prefer microbrew beer over wine
Which of the following best explains the effect of these events in the microbrew beer market? A) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in both the equilibrium price and the equilibrium quantity. B) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price. C) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity. D) The supply curve has shifted to the right and the demand curve has shifted to the left. As a result there has been a decrease in the equilibrium quantity and an uncertain effect on the equilibrium price.
If foreigners increase their ownership of U.S. assets, this would help to offset
a. a deficit in the U.S. current account b. a deficit in the U.S. capital account c. a surplus in the U.S. current account d. a surplus in the U.S. capital account e. a surplus in the total balance of payments
The supply of loanable funds curve is upward-sloping because a rise in the interest rate
a. decreases the opportunity cost of firms' investment spending b. stimulates the economy c. decreases the opportunity cost to households of consuming d. increases the opportunity cost to households of consuming e. increases the government's desire to run a budget deficit
One World View article is titled "Top Tax Rates." The highest marginal tax rates in the world in 2015 were found in
A. Monaco. B. France. C. Canada. D. Denmark.