Was the U.S. government able to control the world petroleum prices? Support your choice with suitable reasons
No, the U.S. government had failed to control the petroleum prices in the world market. This was mainly on account of the country's continued dependence on oil imports. Even when the country became self sufficient in petroleum, higher world prices induced the U.S. producers to export oil which drove up the domestic petroleum prices once again.
You might also like to view...
To judge a statistical relationship, should a researcher preferably rely on a small sample or a large sample? Explain your answer
What will be an ideal response?
Of the remedies for conflicts of interest, which one is the most intrusive?
A) regulate for transparency B) separation of functions C) supervisory oversight D) socialization of information production
Assume that steak and potatoes are complements. When the price of steak goes up, the demand curve for potatoes:
A) shifts to the left. B) shifts to the right. C) remains constant. D) shifts to the right initially and then returns to its original position.
The following table provides information about production at the XYZ-TV Company.Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000How many workers will XYZ-TV Company hire if the going wage for TV production workers is $28,000?
A. 1 B. 2 C. 3 D. 4