The primary effect of OPEC actions in the period from 1973 to 1980 was to increase
A. wage rates.
B. interest rates.
C. employment and output.
D. energy prices.
Answer: D
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Which of the following statements regarding a competitive market is not correct?
a. There are many buyers and many sellers in the market. b. Because of firm location or product differences, some firms can charge a higher price than other firms and still maintain their sales volume. c. Price and average revenue are equal. d. Price and marginal revenue are equal.
Suppose that along the economy-wide rate-of-return line, the current interest rate of 8 percent causes a planned investment of $300 billion
Should the interest rate fall to 7 percent, the $300 billionth dollar of investment spending now generates a ________ rate of profit, which puts ________ pressure on investment. A) positive, downward B) positive, upward C) negative, downward D) negative, upward
In the circular flow diagram, households sell _________ to business firms.
a. information b. products c. services d. labor
About how much U.S. and European trade is intra-industry?
a. 40% b. 50% c. 60% d. 70%