The value of all outstanding federal government securities is called

Iran called on OPEC in November 2008 to cut production by a further 1 million to 1.5 million barrels per day when it meets in Cairo later this month. Why would OPEC, a cartel, restrict production?

A) to decrease demand B) to increase supply C) to decrease quantity supplied D) to increase profits

Economists frequently urge governments of developing countries to replace import quotas with import tariffs as a first step in a strategy that aims to reduce import protection

What is the reasoning offered by economists to support this recommendation to developing countries?