In the short run, an increase in the price of oil will cause
A) an increase in output.
B) a reduction in the price level.
C) an increase in the interest rate.
D) all of the above
E) none of the above
C
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Which of the following is FALSE about the Highly Indebted Poor Countries initiative?
A) Most of the countries included are in sub-Saharan Africa. B) Countries qualify for debt relief partly based on their level of poverty. C) Countries do not have to have established a past track record of economic reform in order to qualify as long as they make future commitments. D) External debt levels must be high relative to exports in order to qualify.
Rent-seeking behavior refers to
a. the offering of goods on a for-rent rather than for-sale basis. b. profit maximization by producers. c. unproductive activity in the pursuit of economic profit. d. illegal manipulation of prices.