A shift in the supply curve for gasoline in the United States would result if
a. people decided to travel more by automobile.
b. the OPEC nations decided to stop sales of crude oil to the United States.
c. the price of gasoline increased.
d. the price of gasoline decreased.
b. the OPEC nations decided to stop sales of crude oil to the United States.
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Personnel economics is
A) the study of how workers are affected by tax law changes. B) the application of economic analysis to the hiring decision. C) the application of economic analyses to human resource issues. D) the study of the factors that determine wage rates.
When the government sets a price floor which is below the equilibrium price
A) a surplus will develop. B) a shortage will develop. C) the equilibrium price will be maintained. D) a price ceiling will follow.
Suppose when real disposable income is $5000, planned real consumption is $4000. When real disposable income increases to $6000, planned real saving increases by $500. The new planned real consumption expenditures is
A. $5,000. B. $3,500. C. $6,000. D. $4,500.
In the case study at the end of Chapter 20, Global Insurance is a company that offers disability insurance. Its major problem is that it does not process policies very quickly, largely because it is not computerized and the process is not linked electronically. The CEO wishes to innovate and to change organizational architecture to computerize and link all phases of the application process. What aspects of leadership need to be emphasized during this difficult transition at Global?
What will be an ideal response?