Suppose the supply of non-OPEC oil increases due to new petroleum discoveries in other countries. What happens OPEC's share of the world oil market?
A) Increases
B) Decreases
C) Remains the same
D) We do not have enough information to answer this question.
B
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Harry's Hookahs incurs $700,000 per year in explicit costs and $500,000 in implicit costs. The company earns $1.4 million in revenues and has $3.7 million in net worth. Based on this information, what is the accounting profit for Harry's Hookas?
A) $200,000 B) $700,000 C) $900,000 D) $1.1 million
A proposed steel mill will be powered by coal. The country has one company that mines a limited amount of inferior coal, which may not be suitable. In evaluating the potential profit of this mill, how should we determine the price of coal?
What will be an ideal response?
Taxes, savings, and imports tend to magnify the effect of any spending change in the economy; that is, if investment spending initially increases, then spending will grow even more as taxes, savings, and imports increase, so the economic growth will
accelerate. Indicate whether the statement is true or false
China linked its exchange rate to the U.S. dollar which meant in the 2004-2007 period
A) it appreciated against most other currencies, hurting its manufacturing competitiveness. B) it depreciated against most other currencies, making its products cheaper. C) it decreased the size of its merchandise trade surplus. D) it overvalued its currency, making it hard to attract foreign investment.