Supply and demand analysis suggests that a sharp increase in the price of gasoline will cause the
a. price of fuel-efficient compact cars to decrease.
b. supply of gasoline to decrease.
c. demand for large luxury cars to increase.
d. demand for fuel-efficient cars to increase.
D
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The utility of a good measures its usefulness
a. True b. False Indicate whether the statement is true or false
According to public choice theorists, people in the market sector and people in the public sector have __________, and (but) sometimes act differently because of different __________ arrangements in the two sectors
A) different motives; institutional B) the same motives; institutional C) different views of politics; equilibrium D) the same motives; equilibrium E) none of the above
An increase in the price of gasoline will
A. Shift the automobile demand curve to the left. B. Shift the gasoline demand curve to the right. C. Shift the automobile supply curve to the left. D. Shift the gasoline supply curve to the right.
The short-run aggregate supply curve (SRAS) is the amount of real GDP: ?
A. produced at various price levels. B. ?produced at various savings rate levels. C. purchased at various price levels. D. ?purchased at various saving rate levels.