To increase U.S. energy independence, prices must be lowered on gasoline and electricity.
Answer the following statement true (T) or false (F)
False
Higher gasoline and electricity prices would give consumers and businesses incentives to be more efficient in their energy usage, and thus would reduce U.S. dependence on foreign oil.
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A quasi-public good is similar to a public good in that one person's consumption of the quasi-public good does not reduce the amount available for everyone else
Indicate whether the statement is true or false
Suppose that the marginal propensity to consume? (MPC) is .8 and there is an increase in investment spending of? $100,000. As a? result, equilibrium real Gross Domestic Product? (GDP) would increase by
A. ?$800,000. B. ?$100,000. C. ?$500,000. D. ?$20,000.
Technological advancements and changes in factor proportions shift a producer's comparative advantage
Indicate whether the statement is true or false
Plastic and steel are substitutes in the production of body panels for certain automobiles. If the price of plastic increases, with other things remaining the same, we would expect:
A) the price of steel to fall. B) the demand curve for steel to shift to the right. C) the demand curve for plastic to shift to the left. D) nothing to happen to steel because it is only a substitute for plastic. E) the demand curve for steel to shift to the left.