During 2007-2008, the price of gasoline increased from approximately $1.50 to $4.00 per gallon. As a result, the

A) supply of gas guzzling automobiles decreased, causing their price to increase.
B) supply of gas guzzling automobiles increased causing their price to fall.
C) demand for gas guzzling automobiles, such as the Hummer, decreased, causing their price to decline.
D) demand for gas guzzling automobiles increased, causing their price to increase.


C) demand for gas guzzling automobiles, such as the Hummer, decreased, causing their price to decline.

Economics

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Refer to the Article Summary. Explain how the declining labor force could have led to the decrease in the unemployment rate

What will be an ideal response?

Economics

Who is most likely to be earning economic rent?

A. A tenant farmer B. A factory worker C. David Letterman D. An IRS agent

Economics

During times of recession, the labor force participation rate typically:

A. rises, as more incomes per household are needed to make ends meet. B. falls, as more people cannot find work, they stay in jobs that aren't a good fit. C. falls, as more people give up and stop looking for work. D. rises, as more people need work.

Economics

Refer to the data. Diminishing returns begin to occur with the hiring of the _________ unit of labor



Use the following data to answer the question:

A. first
B. second
C. third
D. seventh

Economics