The development of a low-cost synthetic fuel is expected to cause a decrease in the price of oil
a. True
b. False
Indicate whether the statement is true or false
True
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In order to maximize profits, multinationals typically use transfer pricing by showing ________ profits in the high-tax country and by showing ________ profits in the low-tax country
A) high; low B) low; high C) economic; normal D) above-normal; accounting
(Figure: Long-Run Aggregate Supply Curves) Which of the following can explain the shift of the long-run aggregate supply curve from A to B in the figure?
What will be an ideal response?
If goods A and B are considered complements, a decrease in the price of A would cause
A. the demand curve for B to shift to the right. B. a movement along the demand curve for B to a (higher price, lower quantity) point. C. the demand curve for B to shift to the left. D. a movement along the demand curve for B to a (lower price, higher quantity) point.
If the short-term own price elasticity for transportation is estimated to be ?0.6, then long-term own price elasticity is expected to be:
A. greater than ?0.6. B. ?0.6. C. less than ?0.6. D. neither greater than, less than, nor equal to ?0.6.