In the Market for Crude Oil,everything Held Constant,if Rate of Interest

question 27

Multiple Choice

In the market for crude oil,everything held constant,if rate of interest of simple bank accounts or interest-bearing investments decline:

• A)the consumption of crude oil declines in the present period.
• B)the extraction of crude oil will increase today.
• C)the price of the crude oil in the international market falls in the present period.
• D)greater research and developments are conducted to locate new sites of crude oil in the present period.
• E)the extraction of crude oil will fall in the present period.

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Definitions:

Psychological Processes

Internal mechanisms and operations of the mind that underlie functions such as thought, emotion, and behavior, shaping human experience and actions.

Mind

The set of cognitive faculties that enables consciousness, perception, thinking, judgement, and memory.

Natural Selection

The process whereby organisms better adapted to their environment tend to survive and produce more offspring.

Biologists

Scientists who study living organisms and their relationship to the environment, including their structure, function, growth, and evolution.