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On April 20, 2020 oil prices closed at -$37.63 per barrel. Which of the following statements is ...
waterman7833
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On April 20, 2020 oil prices closed at -$37.63 per barrel. Which of the following statements is ...
On April 20, 2020 oil prices closed at -$37.63 per barrel. Which of the following statements is FALSE regarding these negative oil prices?
▸ The reason for the decrease in the price of oil was that people knew the price was going to decrease and stopped buying oil.
▸ The negative oil prices only lasted for one day.
▸ The reason for the sudden decrease in the price of oil stemmed from the lockdowns associated with the coronavirus.
▸ The negative price of oil indicates that oil producers were paying people to take their oil because they had nowhere to store it.
Textbook
Macroeconomics
Edition:
3
rd
Authors:
Acemoglu, Laibson, List
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The reason for the decrease in the price of oil was that people knew the price was going to decrease and stopped buying oil.
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waterman7833
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Smart ... Thanks!
bkrandy
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Just got PERFECT on my quiz
Ivansitospeed@g
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I appreciate what you did here, answered it right
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