State some of the policies adopted by the U.S. government to check petroleum prices
Some of the policies adopted by the U.S. to control petroleum prices included price ceiling, tax on domestic petroleum producing firms, increasing domestic oil exploration, and reducing demand for petroleum products.
Economics
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Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one snowboard is painting
A) 1/8 of a kite. B) 1.5 kites. C) 8 kites. D) 12 kites.
Economics
Carlos can produce the following combinations of X and Y: 10X and 10Y, 5X and 15Y, and 0X and 20Y. The opportunity cost of one unit of X for Carlos is
A) 1 unit of Y. B) 2 units of Y. C) 1/2 unit of Y. D) 1/4 unit of Y. E) none of the above
Economics