If there is a surplus in the oil market, then the price of oil will:
A. rise.
B. fall.
C. remain unchanged.
D. react unpredictably.
Answer: B
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From a management policy perspective, which regression result is the most useful?
A) a regression equation that passes the F-test B) a regression equation whose explanatory variables all pass the t-test C) a regression equation that has the highest R2 D) a regression equation that has the least number of dummy variables
Which of the following refers to a natural monopoly?
a. A monopoly resulting from government control b. A monopoly resulting from economies of scale c. A monopoly resulting from output leadership d. A monopoly resulting from a large advertising budget e. A monopoly resulting from trade restrictions
Which of the following is not considered a significant factor contributing to economic growth by economists today?
a. work effort is less intense in the heat of the tropics b. an increase in the quantity of physical capital c. increased use of land inputs d. greater division of labor and specialization
NAFTA is an example of a free trade area consisting of the United States, Canada, Mexico, and the European Community
Indicate whether the statement is true or false