All else equal, when oil prices decrease, people are ________ to look for oil substitutes. This will ________ the number of years it will take to deplete the stock of oil
A) discouraged; increase
B) discouraged; decrease
C) encouraged; increase
D) encouraged; decrease
B
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Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises, and nominal value of the domestic currency rises. b. The quantity of real loanable funds per time period falls, and nominal value of the domestic currency rises. c. The quantity of real loanable funds per time period rises, and nominal value of the domestic currency remains the same. d. The quantity of real loanable funds per time period rises, and nominal value of the domestic currency falls. e. There is not enough information to determine what happens to these two macroeconomic variables.
Specialization in goods and services one can produce at a low cost makes it possible for trading partners to produce a larger joint output. This is called
a. the law of absolute advantage. b. the law of demand. c. the law of production possibilities. d. the law of comparative advantage
In capitalism,
a. there is no competition b. most property is privately owned c. the government sets most prices d. there is no freedom
The government uses the HHI as a guideline to determine which proposed mergers are acceptable.
Answer the following statement true (T) or false (F)