Weekly Review Quiz As of 2008-06-26 Economics: Micro

Weekly Review Quiz as of 2008-06-26 Economics: Micro

China Lifts Fuel Prices, and Oil Falls in Response by Andrew Batson and Neil King Jr. 06/20/2008 http://online.wsj.com/article/SB121388580377088575.html

1. The Chinese government, which controls its domestic fuel prices, recently raised domestic fuel prices, which caused

* a) the world price of crude oil to fall. b) the world price of crude oil to increase. c) the U.S. demand for oil to increase. d) the U.S. demand for oil to decrease. e) China to increase its import of gasoline and diesel fuels.

Ford Reels as Truck Sales Plunge by Matthew Dolan, John D. Stoll and Kate Linebaugh 06/21/2008 http://online.wsj.com/article/SB121397234062591983.html

2. In response to declining demand, Ford pushed back the launch of its redesigned a) Mustang. b) Edge. * c) F-150 pickup truck. d) Escape. e) Taurus.

NFL in Talks with ESPN, in Bid to End Cable Battle by Sam Schechner, Matthew Futterman and Merissa Marr 06/21/2008 http://online.wsj.com/article/SB121399524481392821.html

3. An agreement between the National Football League’s NFL Network and Walt Disney Co.’s ESPN to form a partnership would signal that a) the cost of the league independently operating the NFL Network is too high. b) fans are unwilling to watch the network. c) the best broadcasters have signed on with ESPN. * d) the NFL has abandoned its effort to force cable operators into carrying its own network. e) the popularity of the NFL has been declining.

As Irish Growth Fades, Its Immigrants Depart by Joellen Perry 06/25/2008 http://online.wsj.com/article/SB121434067659000991.html 4. The recent wave of immigrants from Eastern Europe to Western economies is slowing sharply because

* a) Eastern European economies are catching up to their Western counterparts. b) Western nations have imposed stricter immigration laws. c) unemployment in Western countries is reaching record levels. d) almost all Eastern European skilled workers already have moved to the West. e) there has been substantially increasing tension in the West between native and immigrant workers.

World's Steelmakers Go Prospecting by Robert Guy Matthews 06/20/2008 http://online.wsj.com/article/SB121389888895489127.html

5. Soaring raw-materials costs are forcing the world's steelmakers to shift strategy. They now are a) seeking horizontal merger partners. b) stockpiling iron ore. c) increasing their reliance on large mining companies. * d) vertically integrating into mining. e) shutting down operations in the short run.