Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.
Figure 33.5Refer to Figure 33.5. The domestic price of oil is $130 per barrel. If the world price of oil is $135 per barrel, this country will
A. export 5 million barrels.
B. import 23 million barrels.
C. import 9 million barrels.
D. export 14 million barrels.
Answer: A
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Refer to the Article Summary. Assume that foreign governments begin to publicize their existing medical services to American medical tourists and more Americans consider hip-replacement surgery to improve their quality of life
What will happen in the market for hip-replacement surgery as a result of these two factors? A) Demand will increase, but these two factors will not shift the supply curve. B) Demand will increase and supply will decrease. C) Supply will increase, but these two factors will not shift the demand curve. D) Demand and supply will both increase.
The differences between monetarist and Keynesian theories are more apparent than real
a. True b. False Indicate whether the statement is true or false
What is a situation that makes the market behave inefficiently?
What will be an ideal response?
A group of firms that coordinate their pricing decisions is called:
A. a monopoly. B. a duopoly. C. a cartel. D. monopolistic competition.