Oil producers expect that oil prices next year will be lower than oil prices this year. As a result, oil producers are most likely to
A) place more oil on the market this year, thus shifting the present supply curve of oil rightward.
B) hold some oil off the market this year, thus shifting the present supply curve of oil leftward.
C) place more oil on the market this year, thus increasing the quantity supplied of oil at lower but not higher prices.
D) hold some oil off the market this year, thus decreasing the quantity supplied of oil at lower but not higher prices.
A
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A) raise; natural B) raise; nominal C) lower; natural D) lower; nominal
There are several important differences between the Fed and the European Central Bank (ECB). What are they?
What will be an ideal response?
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Figure 7.2 shows a monopolist's demand curve. The marginal revenue from selling the fourth unit is:
A. $8. B. $6. C. $4. D. $2.