“OPEC is exploiting the United States by selling us oil at inflated prices.” Agree or disagree.
What will be an ideal response?
Trade is voluntary and only takes place if both sides gain. There is truth to the “inflated price” portion of the statement, since OPEC’s price is not truly market-determined but depends on price-fixing agreements. But even though the price is inflated, it must still be cheaper than the next best alternative, or the United States would not agree to buy OPEC oil.
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Human capital ________ as you work. As a result, the ________ of goods and services ________
A) does not change; quality; does not change. B) decreases; quantity; decreases. C) improves; quality; does not change. D) declines; quality; increases. E) increases; quantity; increases.
Eurobank spreads are less than U.S. spreads
Indicate whether the statement is true or false