A shift in the demand curve for gasoline would occur if
A. the price of gasoline changed.
B. more oil was discovered.
C. there was a shift in the supply curve for gasoline.
D. people decided to travel more by car.
D. people decided to travel more by car.
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As a result of importing a good, domestic producers ________ the quantity produced and the price of the good ________
A) increase; falls B) increase; rises C) decrease; falls D) decrease; rises E) decrease; does not change
In order to be able to price discriminate and maximize profit, a monopolist must be able to do all of the following EXCEPT
A) identify and separate different buyer types. B) sell a product that cannot be resold. C) identify competitors. D) determine the output where marginal revenue equals marginal cost.
The market mechanism is more efficient in allocating resources between time periods than it is in allocating resources among different industries.
Answer the following statement true (T) or false (F)
According to the above table, if real Gross Domestic Product (GDP) equals $30,000, what is the average propensity to consume?
A. 0.8 B. 0.75 C. 0.87 D. 0.67