In retaliation for U.S. support for Israel during the Arab-Israeli War, OPEC countries stopped selling oil to the United States. For the United States, this embargo caused the
A. demand curve for oil to shift out.
B. demand curve for oil to shift in.
C. supply curve of oil to shift out.
D. supply curve of oil to shift in.
Answer: D
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In the foreign exchange market, as the U.S. exchange rate rises, other things remaining the same, the
A) quantity of dollars demanded decreases. B) demand curve for dollars shifts rightward. C) demand curve for dollars shifts leftward. D) supply curve of dollars shifts rightward. E) quantity of dollars demanded increases.
Which of the following is FALSE?
A) Economies of scale may be internal, external, or both. B) With internal economies of scale, the gains from trade include a wider selection of consumer choices and lower prices. C) With external economies of scale, the gains from trade are less certain since, in theory, they can lock in production in a less efficient country and prevent the development of production in a more efficient country. D) Internal economies of scale lead firms to regionally concentrate their industry.
Government policies intended to decrease aggregate spending and output are called ________ policies.
A. fiscal B. monetary C. aggregate D. contractionary
If a manager has determined that a particular piece of capital is likely to increase the cash flow of a business by $10,000 for the next five years, what is the present value of the capital at an interest rate of 10 percent? (Assume that the cash flow first increases one year from today.)
What will be an ideal response?