The ratio of reserves to annual production (R/P) is an indication of: The ratio of reserves to annual production (R/P) is an indication of:
how much oil each OPEC country is allowed to produce
how much energy countries are allowed to hold in reserve
the number of years the known reserves will last the price/barrel as determined by the total output around the world
the effect of non-OPEC countries on total world production

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Which of the following best explains the purpose of protectionist trade policies such as tariffs and subsidies? a. they make sure that governments have enough money to pay for fiscal policies. b. they give foreign competitors access to new markets around the world. c. they allow producers to sell their products more cheaply than foreign competitors. d. they enable producers to purchase productive resources from everywhere in the world.