The increase in world oil prices during the 1970s was
A. the result of depletion of world reserves of oil.
B. artificially created by OPEC.
C. the result of extremely high growth rates in industrialized countries.
D. fully reversed by 1982.
Answer: B
You might also like to view...
The ________ of the U.S. economy during World War II, with its vast defense spending, ________ of Keynesian macroeconomics
A) continued stagnation, established the supremacy B) continued stagnation, was the demise C) rapid recovery, established the supremacy D) rapid recovery, was the demise
Walter builds birdhouses. He spends $5 on the materials for each birdhouse. He can build one in 30 minutes. He is semi-retired but earns $8 per hour at the local hardware store. He can sell a birdhouse for $20 each. An accountant would calculate the total profit for one birdhouse to be
a. $7. b. $11. c. $12. d. $15.
We associate the term debt finance with
a. the bond market, and we associate the term equity finance with the stock market. b. the stock market, and we associate the term equity finance with the bond market. c. financial intermediaries, and we associate the term equity finance with financial markets. d. financial markets, and we associate the term equity finance with financial intermediaries.
The supply curve graphically illustrates
a. the difference between the current supply of a good or service and the potential supply producers are capable of producing. b. the difference between the current supply of a good or service and the potential amount consumers are willing to purchase. c. the quantity of a good or service producers are willing to supply at alternative prices. d. the quantity of a good or service consumers will purchase at alternative prices.