If there is a surplus in the oil market, then the price of oil will:
a. rise. b. fall.
c. remain unchanged. d. react unpredictably.
b
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Suppose that Lady Gaga sells 1,000 tickets to a concerts at $480 each
If the equilibrium price is $600 per ticket for a fixed supply of 1,000 tickets, what is the value of the additional economic rent that Lady Gaga could earn if she charged the market clearing price? A) $1,080,000 B) $120,000 C) $600,000 D) $480,000
The general answer to the question of choosing the scale of the variables is
A) dependent on you whim. B) to make the regression results easy to read and to interpret. C) to ensure that the regression coefficients always lie between -1 and 1. D) irrelevant because regardless of the scale of the variable, the regression coefficient is unaffected.
Banks may hold the reserves for their customers' deposits as
A. cash in their bank vaults only. B. deposits at the Fed only. C. either cash in their vaults or their deposits at the Fed. D. Federal Reserve Notes.