According to the law of demand an increase in the price of gasoline will:
A. decrease the demand for gasoline.
B. decrease the quantity demanded of gasoline, other things constant.
C. increase the quantity demanded of gasoline, other things constant.
D. increase the demand for gasoline.
Answer: B
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An increase in real disposable income will:
a. increase the value of net exports of a country. b. decrease the value of net exports of a country. c. increase government purchases. d. decrease government purchases. e. increase net taxes.
If a major union goes on strike, then the country would be operating inside its production possibilities frontier
a. True b. False Indicate whether the statement is true or false
The two main tools of macroeconomic policy include monetary policy and fiscal policy. Briefly describe the main components of each.
What will be an ideal response?
Exports are products produced in the home country and sold in another country.
Answer the following statement true (T) or false (F)