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waterman7833 waterman7833
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A year ago
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

Macroeconomics


Edition: 3rd
Authors:
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crwille78crwille78
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A year ago
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This site is awesome
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