Iran called on OPEC in November 2008 to cut production by a further 1 million to 1.5 million barrels per day when it meets in Cairo later this month. Why would OPEC, a cartel, restrict production?
A) to decrease demand
B) to increase supply
C) to decrease quantity supplied
D) to increase profits
D
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Which of the following is NOT an effect from a change in the federal funds rate?
A) change in the real interest rate B) change in investment C) change in government expenditures D) change in aggregate demand E) change in the quantity of money
Rank the following goods from least to most elastic: gasoline, Unocal gasoline, gasoline at Murph's Unocal Station
A) Gasoline, Unocal gasoline, gasoline at Murph's Unocal Station B) Gasoline, gasoline at Murph's Unocal Station, Unocal gasoline C) Gasoline at Murph's Unocal Station, Unocal gasoline, gasoline D) Unocal gasoline, gasoline at Murph's Unocal Station, gasoline E) Unocal gasoline, gasoline, gasoline at Murph's Unocal Station
The aggregate demand curve will shift to the right ________ the initial increase in government purchases
A) by less than B) by more than C) by the same amount as D) sometimes by more than and other times by less than
The time necessary to put a desired policy into effect once economists and policymakers acknowledge that the economy is in an expansion or a recession is called a(n): a. recognition lag
b. implementation lag. c. operational lag. d. administrative lag.