Because oil price increases reduce the consumption of oil, this discourages exploration for new sources of oil
Indicate whether the statement is true or false
FALSE
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P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
Suppose QRS-TV enters into an agreement with P-TV that gives QRS-TV the exclusive right to air a reality show during this time slot. QRS-TV would be willing to pay P-TV ________ in order to persuade P-TV to enter into this agreement.
A. no more than $5 million B. no more than $10 million C. more than $10 million D. nothing
For all employee earnings subject to Social Security taxes, what is the current Social Security tax rate for employees?
A) 0.8% B) 2.9% C) 4.2% D) 6.2%
Which of the following has the longest lag time for the Federal Reserve?
a. reducing production output b. increasing employment c. reducing government bonds d. increasing full price levels
Spyros owns a pancake restaurant. For years, customers have had two pricing options: two pancakes for $6.00 or three pancakes for $8.00. Both pricing options sell equally well. Spyros wants to add an option to order four pancakes to the menu. Using your knowledge of diminishing marginal return, what price would you recommend he set for four pancakes in order to maximize the number of pancakes he sells? Explain how you arrived at your answer.
What will be an ideal response?