The above figure shows the market for oil. Because of the development of a new deep sea drilling technology the
A) demand curve shifts from D1 to D2 and the supply curve does not shift.
B) demand curve shifts from D1 to D2 and the supply curve shifts from S1 to S2.
C) demand curve does not shift, and the supply curve shifts from S2 to S1.
D) demand curve does not shift, and the supply curve shifts from S1 to S2.
D
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If the Fed lowers the interest rate in the U.S., ________
A) the U.S. net exports will decrease B) the demand curve for dollars will shift to the left C) the demand curve for dollars will shift to the right D) the real exchange rate of the U.S. will appreciate
When calculating how much changes in the money supply will change nominal GDP, we use the money multiplier instead of the spending multiplier
a. True b. False Indicate whether the statement is true or false
Oligopoly is an industry with a small number of firms producing homogeneous or differentiated goods with minimal barriers to entry
a. True b. False Indicate whether the statement is true or false
Many countries remain poor because they currently are poor. This statement summarizes the:
A. infrastructure problem. B. vicious circle of poverty. C. demographic transition problem. D. problem of capital flight.