In the market for crude oil, everything held constant, if rate of interest of simple bank accounts or interest-bearing investments decline, then:
a. the consumption of crude oil declines in the present period.
b. the extraction of crude oil will increase today.
c. the price of the crude oil in the international market falls in the present period.
d. greater research and developments are conducted to locate new sites of crude oil in the present period.
e. the extraction of crude oil will fall in the present period.
e
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In the past half century, the developing countries have experienced major compositional shifts from exports of primary products (including agricultural and raw materials) to exports of manufactures
How might you explain this in terms of broad historical developments during this period?
When transportation costs fall, consumer prices have a tendency to rise
Indicate whether the statement is true or false