Which of the following country has 25 percent of the world’s estimated oil reserves and the lowest cost production as well as a dominant role in OPEC pricing ?
A. Russia
B. Saudi Arabia
C. Iraq
D. Venezuela
A. Russia
B. Saudi Arabia
C. Iraq
D. Venezuela
A. Iron Ore
B. Wheat
C. Both of these
D. None of these
I- Bolivia
II- Benin
III- Uganda
IV- Tanzania
A. I and II only
B. I, II , III only
C. I, III and IV only
D. I, II , III and IV
A. A free market is necessary for economic growth and stability
B. Regulation is necessary for economic growth and stability
C. Active government intervention is necessary to ensure economic growth and stability
D. Government intervention is not necessary to ensure economic growth and stability
A. variable, technology
B. fixed, expectations
C. fixed, rental rate of capital
D. variable, interest rates
A. The firm is Productively efficient
B. The firm is allocatively inefficient
C. The firm produces where marginal cost is less than marginal revenue
D. The firm produces at the socially optimal level
A. 0.92 million hectares
B. 2.92 million hectares
C. 1.92 million hectares
D. 0.92 million hectares