Oil producers expect that oil prices next year will be higher than oil prices this year. As a result, oil producers are most likely to
A) place more oil on the market this year, thus shifting the present supply curve of oil rightward.
B) hold some oil off the market this year, thus shifting the present supply curve of oil leftward.
C) place more oil on the market this year, thus increasing the quantity supplied of oil at lower but not higher prices.
D) hold some oil off the market this year, thus decreasing the quantity supplied of oil at lower but not higher prices.
B
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Consider two perfectly competitive labor markets for jobs that require different skills but are otherwise equivalent. One job currently pays a higher wage than the other job. This wage differential
a. cannot persist in the long run b. can persist only if there are significant differences in the nonmonetary characteristics of the two jobs c. can persist if workers in the lower-wage job lack the ability to gain the skills needed for the higher-wage job d. will be eliminated as labor supply to the higher-wage job increases e. is likely unrelated to different workers' endowments of talent and intelligence
What is the Effective Tax Rate?
What will be an ideal response?
In 1990, there were 50 bilateral agreements and regional trade agreements between countries. Today there are
A) more than 230 of these agreements. B) 30 of these agreements. C) none of these agreements remaining. D) more than 10,000 of these agreements.
Our balance on current account was about minus $_________ billion in 2009.
A. 300 B. 420 C. 540 D. 660