If the expected price of oil rises, then
A. the equilibrium price and quantity will not change.
B. the current equilibrium price will rise, and the current equilibrium quantity will fall.
C. the current equilibrium price and quantity will both rise.
D. the equilibrium price will rise, but the change in the equilibrium quantity will depend on whether the demand change outweighs the supply change.
Answer: D
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Autonomous tightening of monetary policy involves ________
A) raising interest rates and shifting the MP curve to the right B) lowering interest rates and shifting the MP curve to the left C) raising interest rates and shifting the MP curve to the left D) lowering interest rates and shifting the MP curve to the right E) none of the above
____________ is the process of making a choice between two or more alternatives
a. Bargaining b. Trading c. Decision making d. Goal setting
Inland passage times were reduced primarily through
a. increasing the speeds of the boats themselves. b. shorter layover times. c. the government activity to clear the rivers of natural obstructions. d. learning to operate the boats at night.
Explain why on average the profit levels for invention and entrepreneurship are generally so low.
What will be an ideal response?