Which of the following could cause the demand curve for tickets to Disney World to shift to the right?
a. A hurricane is predicted to hit Orlando next week.
b. A new app can predict wait times on rides and reduce wait by 90%.
c. Consumer incomes decreased during the last quarter due to new tax increases.
d. Universal Studios lowered the price of their one day passes to Harry Potter Land.
b
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If the demand for gasoline becomes more elastic over time,
a. the demand curve will shift out. b. the demand curve will become flatter. c. other things being equal, the equilibrium price of gasoline must fall. d. other things being equal, the equilibrium quantity of gasoline must fall.
An increase in government spending with no change in taxes leads to a
A) lower income level B) lower price level C) smaller money supply D) higher interest rate E) higher bond price
Aggregate expenditure means total or combined spending.
a. true b. false
The price of oil falls.
Describe the effect on the AD curve, the SRAS curve, and the LRAS curve.