If profit-seeking major oil companies began to use current profits from the oil business to buy department stores and hotel chains, economic analysis suggests that
a. oil company profits were high relative to other possible investment opportunities.
b. oil company executives thought profits from investment outside the oil industry would be lower than oil-industry investments.
c. oil company executives must believe these other investments will be more profitable than investments in the oil industry.
d. the government would be justified in subsidizing oil companies on grounds of economic efficiency.
C
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Education and training are ways to build:
A. human capital. B. physical capital. C. technological capital. D. All of these could be true.
In the period from 1929 through 1933, there were successive ________ in aggregate demand and ________ in short-run aggregate supply
A) increases; decreases B) decreases; increases C) decreases; no change D) increases; increases
An association of businesses that are jointly owned and operated by members for mutual benefit is a:
A) condominium. B) corporation. C) cooperative. D) joint tenancy.
The task of economic regulation is to:
a. protect monopoly profits.
b. approximate the results of the competitive market.
c. replace competition with government ownership.
d. ensure laissez faire.
e. increase competition within the market.