Although U.S. Steel is integrated into iron ore mining, it currently does not own any of the mines that supply its coking coal because:
a. the company has a high requirement of coking coal which cannot be supplied by a single mine.
b. the coal prices are highly unpredictable and volatile.
c. there are a limited number of coal suppliers.
d. futures and options markets are available for coal.
D
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We draw the long-run aggregate supply curve as a vertical line to reflect the fact that
A) changes in the price level do not alter the level of long-run real GDP after full adjustment has occurred. B) an accurate depiction of the production possibilities curve is vertical after full adjustment has occurred. C) technology and resource endowments do not affect long-run real GDP after full adjustment has occurred. D) the productive capacity of the economy never changes after full adjustment has occurred.
The United States is the largest national economy in the world
a. True b. False Indicate whether the statement is true or false
The three broad reasons for saving, as identified by economists, relate to:
A. consumption, investment, and exports. B. national, public, and private production. C. capital gains, capital losses, and deficits. D. the life-cycle, precaution, and bequests.
According to Keynes, at equilibrium, aggregate demand will always equal each of the following EXCEPT
A. C + I. B. C + S. C. full employment GDP. D. aggregate supply.