The windfall profits tax on oil will curtail oil production if
a. oil executives decide to be spiteful.
b. the demand for oil is inelastic.
c. the supply curve for oil is upward sloping.
d. the supply curve for oil is vertical.
c
Economics
You might also like to view...
Refer to the scenario above. The principal in this case is ________
A) $10 B) $300 C) $3,000 D) $3,300
Economics
"Rationing" scarce goods by a rule that encourages our willingness to pay the monetary price
What will be an ideal response?
Economics
The Heckscher-Ohlin Theorem predicts
A) who benefits and who loses from trade. B) which factors are abundant. C) the income distribution effects of trade. D) which goods will be exported.
Economics
Economic growth guarantees economic development.
Answer the following statement true (T) or false (F)
Economics