Which of the following statements is TRUE?
A) An increase in the price of gasoline will decrease the demand for gasoline.
B) An increase in the price of gasoline will increase the quantity demanded of gasoline.
C) An increase in the price of gasoline will increase the supply of gasoline.
D) An increase in the price of gasoline will increase the quantity supplied of gasoline.
D
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Both monetary policy and fiscal policy shift the aggregate demand curve.
a. true b. false
Through their marketing and advertising efforts, companies try to:
A. increase the elasticity of their demands. B. increase price more than quantity sold. C. augment the impact of the snob effect. D. minimize the impact of the snob effect.
Social demand exceeds market demand whenever:
A.) Private costs exist. B.) External costs exist. C.) Private benefits exist. D.) External benefits exist.
An important effect of fractional reserve banking is that bankers have
A. little control over total reserves. B. total control over the amount of lending in the economy. C. no control over the amount of reserves in the banking system. D. some discretion over the money supply.