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7nadin3 [17]
3 years ago
14

An increase in the price of oil will a. shift the supply curve of oil to the left. b. shift the supply curve of oil to the right

. c. leave the supply curve of oil unchanged. d. not enough information to answer the question.
Business
1 answer:
klasskru [66]3 years ago
3 0

Answer:

The correct answer is option c.

Explanation:

An increase in the price of oil will cause the quantity demanded of a commodity to decline and the quantity supplied to increase. This will cause a surplus in the market.

There will be no change in the demand and supply curve.

This is because of the law of demand and supply.

According to the law of demand, the price of a commodity is inversely related to the quantity demanded of the commodity, while other factors are kept constant.

Similarly, the law of supply states that the price of a commodity is positively related to the quantity demanded of a commodity.

The demand and supply curves are not affected by the changes in price, they change as a result of changes in other factors.

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A nation has a population of 300 million people. Of these, 80 million are retired, in the military, in institutions, or under si
ValentinkaMS [17]

Answer:

Unemployment rate = 4.55%

Explanation:

We know,

Unemployment rate = Number of unemployed people in a country ÷ Total labor force.

Given,

Number of unemployed people in a country = 10 million

Labor force = Number of unemployed people in a country + Number of employed people in a country

Therefore, Labor force = 10 million + 210 million = 220 million

Putting the values into the above formula, we can get,

Unemployment rate = (10 million ÷ 220 million) × 100

Unemployment rate = 0.04545 × 100

Unemployment rate = 4.55%

8 0
3 years ago
Flapjack Corporation had 7,680 actual direct labor hours at an actual rate of $12.45 per hour. Original production had been budg
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Answer:

Labour time (efficiency) variance =   $9,984 unfavorable

Explanation:

<em>The labour time variance is the dollar value of the difference between the standard time allowed for the actual output produced and the actual time used.</em>

                                                                            Hours

Standard hours ( 960 units × 7.2 hours )   =   6,912

Actual hours                                                     <u>7,680</u>

Time variance                                                     768 Unfavorable

×  standard labour rate                                     <u>×  $13</u>

 Variance                                                         <u> $9,984 </u>Unfavorable

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variety of youth concerns

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