The most likely reason that oil prices spiked during 2007-2008 was because
a. suppliers drastically cut back on production
b. speculators heavily invested in the futures market
c. there was an increase in demand due to an increase in usage
d. there was an increase in demand as buyers began to hoard oil for future use
e. suppliers increased their production to match the increase in demand
C
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In the real business cycle model, the short-run aggregate supply curve is always the same as ________
A) long-run aggregate supply B) the long-run aggregate demand schedule C) the velocity of money D) the real rate of interest
When demand is elastic, an increase in price causes the seller's total revenue to:
A. decrease. B. increase. C. fall to zero. D. remain the same.
Under the Affordable Care Act (ACA), states were required to initiate which one of the following changes in the administration of their respective programs?
a. Accept temporary reductions in federal matching funds for the expansion population. b. Extend eligibility to participants with household incomes less than 138 percent of the federal poverty level. c. Prohibit eligibility of non-disabled adults without children regardless of income. d. Require physicians to accept new Medicaid patients in order to practice medicine in the state. e. Expand coverage to include pregnant females.
The organizational structure where there are staff departments that support other departments
a. functional b. line and staff c. product d. matrix