Q.

What would be the effects of an export subsidy on oil imposed by Russia?

A. Relative world supply of oil rises and relative world demand falls.
B. Relative world supply of oil falls and relative world demand rises.
C. Relative world supply of and relative world demand for oil rise.
D. Relative world supply of and relative world demand for oil fall.
Answer» A. Relative world supply of oil rises and relative world demand falls.
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