What would be the most likely effect in the market for OPEC oil if the U.S. were to impose a legal ceiling price on crude petroleum produced domestically? Assume their price is far below the current world price?
A) The demand would decrease.
B) The demand would increase.
C) The supply would decrease.
D) The supply would increase.
E) Only the quantity would change, not the demand or the supply.
Question 2
When someone says positive externalities coming from education justify subsidization of education, they are saying
A) education must be uniform in a democratic society.
B) government ought to be the exclusive provider of at least elementary education.
C) many people cannot afford to educate their children.
D) private schools tend to be inefficient.
E) students capture only part of the benefits from attending school.
The greenhouse effect.
The Role of Microfilaments in Cell Movement-Showing Cause and Effect in Biology
Alzheimer’s medications work by intensifying the effect of acetylcholine at the receptor.
The Orographic Effect
Effect of Productivity Improvement in the Malthusian Model
Markets and Institutions Market Story Problem