microeconomics

posted by .

If the price of oil falls below $50 per barrel, then the supply of the goods and services whose poduction involves a lot of oil will increase. The incresase in supply will cause the prices for these goods and services to fall. True, False or Uncertain. Explain

take a shot, draw supply and demand curves.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Macroeconomics

    (Supply and Demand) How do you think each of the following affected the world price of oil?
  2. MICROECONOMICS

    This is really long but i really need help!! THX In 1973, there was a war between some arab countries and Israel. Many western countries wanted to help Israel. Some arab oil exporting countries have reacted by cutting oil exports to …
  3. Macroeconomics

    Can someone please help me with this? Since fall of 2004, rising oil prices have frequently ended stock market rallies and led to declines in all major stock indexes. Draw an AS/AD diagram which shows the effect on the US macroeconomy
  4. Economics

    Could you please check this Directions: Match each item with the correct statement. Here are the words: supply elasticity law of supply price system technology price ceiling supply inelastic supply curve shortage market supply taxes …
  5. macoreconomics

    Suppose there is a temporary but significant increase in oil prices in an economy with an upward-sloping Short-Run Aggregate Supply (SRAS) curve. If policymakers wish to prevent the equilibrium price level from changing in response …
  6. college macroeconomics

    Suppose there is a temporary but significant increase in oil prices in an economy with an upward-sloping Short-Run Aggregate Supply (SRAS) curve. If policymakers wish to prevent the equilibrium price level from changing in response …
  7. Civics

    Suppose the Federal Reserve raises interest rates. Which of the following predicts the most likely results?
  8. Civics

    Suppose the Federal Reserve raises interest rates. Which of the following predicts the most likely results?
  9. Macroeconomics

    Suppose there is a temporary but significant increase in oil prices in an economy with an upward-sloping Short-Run Aggregate Supply (SRAS) curve. If policymakers wish to prevent the equilibrium price level from changing in response …
  10. Urgent Math

    The price of oil decreased from $54 per barrel to $50 per barrel. What is the percent decrease in oil prices?

More Similar Questions