Which of the following statements regarding OPEC is false?
A) Because it sells a homogeneous product, since its formation in 1960 OPEC has been the clear leader when it comes to determining the price of crude oil.
B) OPEC's membership includes countries from the Middle East, Africa, and South America.
C) Over time, OPEC's ability to control the price of oil has been constrained by changes in consumer demand and increased production of oil by non-member countries.
D) The cartel has not always been successful when it comes to preventing individual members from cheating on the agreed upon production quotas.
A
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Refer to the scenario above. Which country is likely to have the highest Human Development Index?
A) Neoland B) Ritzland C) Techland D) Eduland
Which of the following would shift the LM curve?
A) an increase in the tax rate B) an increase in the real money supply C) a reduction in business confidence D) All of these.
If capital demand shifts to shorter lived equipment, then
A) net investment will fall. B) net investment will increase. C) net investment will not change. D) the effect on net investment is unknown.
A decrease in aggregate demand would shift the curve ______.
a. from AD1 to AD2
b. from AD3 to AD2
c. from AD1 to AD3
d. from AD3 to AD1