In the later part of the twentieth century, the price of crude oil began to increase after decades of relatively steady prices, which of the following could explain this phenomenon?
A) Worldwide reserves have been increasing.
B) Worldwide demand has been increasing.
C) Global warming
D) Extraction technology has been degrading.
B
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Progressive taxation serves which of the following goals of economic welfare policy?
A. Economic growth B. Redistribution of wealth C. Progressive taxation has all of these goals aimed at reducing inequality. D. Social insurance
The basic idea behind the convergence theory is:
A. also the basic idea behind the catch-up effect. B. each additional unit of capital provides larger gains when you're coming from behind. C. that countries starting at low levels of income will tend to grow at much faster rates than those starting with high levels of income. D. All of these are true.
A peach farmer must decide how many peaches to harvest for the world peach fair. He knows that there is a 25 percent chance that the world price will be $3, a 50 percent chance that it will be $3.50, and a 25 percent chance that it will be $4. His cost function is C(Q) = 0.05Q2. The farmer's maximum expected profit is:
A. 0. B. $122.50. C. $61.25. D. None of the answers are correct.
Banks can obtain funds to make loans by borrowing reserves from other banks through the federal funds market.
Answer the following statement true (T) or false (F)