In an open economy, aggregate supply consists of domestic production plus imports.

Evidence suggests that credit-rating agencies ________ exploited conflicts of interest because ________

A) have not; it would cause their ratings to lose credibility and thus have a lower value in the marketplace B) have not; they would have an increase in profits in the long-run C) have; it would cause their ratings to lose credibility and thus have a lower value in the marketplace D) have; they would have an increase in profits in the long-run

Suppose an oil company wants to make its total revenue as large as possible. It should charge a price at which the demand for oil is:

a. elastic. b. unitary elastic. c. inelastic. d. perfectly inelastic.