Multiple Choice
Rising oil prices during the 1970s shifted flower production from California to Kenya. Which of the following answers explains this shift?
A) Markets are linked to one another.
B) Rising oil prices increased greenhouse heating costs in California making it cheaper to grow flowers in warmer climates.
C) The Kenyan flower industry is partially a result of rising oil prices.
D) All of the answers are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Futures markets are used for speculation and
Q7: If speculators expect the future price of
Q10: Suppose resources are directed through the actions
Q11: Economist Paul Heyne looked in the newspaper
Q14: Ethanol is the active ingredient in alcoholic
Q14: Higher oil prices represent higher energy costs
Q15: How can a futures contract mitigate exchange
Q17: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3375/.jpg" alt=" Reference: Ref 7-2
Q77: The central planning approach fails to achieve
Q234: Speculators who think that a war in