Multiple Choice
Refer to the information provided in Figure 4.4 below to answer the question(s) that follow. Figure 4.4
-Refer to Figure 4.4. At the world price of ________ per barrel of oil, the United States imports 6 million barrels of oil per day.
A) $100
B) $125
C) $150
D) >$150
Correct Answer:

Verified
Correct Answer:
Verified
Q51: The price system<br>A) automatically distributes scarce goods.<br>B)
Q52: Refer to the information provided in Figure
Q53: A price ceiling is<br>A) a minimum price
Q54: For a particular product, an effective price
Q55: Refer to the information provided in Figure
Q57: Refer to the information provided in Figure
Q58: If the equilibrium price of gasoline is
Q59: Refer to the information provided in Figure
Q60: In the short run, it is necessary
Q61: An effective price ceiling must be set<br>A)