When the representatives of the OPEC countries met in March 1999 and decided to reduce the amount of oil each country would produce, the result was
A. the world demand for oil fell.
B. the world supply of oil fell.
C. the price of oil fell.
D. All of the choices were results of this meeting.
B. the world supply of oil fell.
Economics
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The hypothesis suggesting that people combine the effects of past policy changes on economic variables with their own judgment about the future effects of current and future economic policy is referred to as the
A) passive expectations hypothesis. B) adaptive expectations hypothesis. C) rational expectations hypothesis. D) active expectations hypothesis.
Economics
How might openness to the global economy influence the debate between policy activists and nonactivists?
What will be an ideal response?
Economics