A main factor determining gasoline demand between 2002 and 2008 was
A. a significant decrease in miles driven by the typical American.
B. Americans' increased use of less fuel efficient vehicles.
C. Americans' increased use of more fuel-efficient vehicles.
D. shrinking demand in both India and China.
Answer: B
You might also like to view...
In the figure above, the marginal rate of substitution (MRS) at point A is
A) greater than the MRS at any other point on the indifference curve. B) equals the MRS at all other points on the indifference curve. C) less than the MRS at any other point on the indifference curve. D) equal to the slope of the budget line.
Oil is considered:
A. a renewable resource. B. a nonrenewable resource. C. physical capital. D. technology.
During a period of economic expansion, we would expect increasing levels of employment
a. True b. False Indicate whether the statement is true or false
In the parable of the leaky bucket, a fundamental problem with government redistribution programs is identified. As long as the government only has "leaky buckets" at its disposal,
a. the costs of welfare programs will exceed the benefits. b. it should not try to reach complete equality in income. c. income equality will be the best policy option. d. equality of economic opportunity will reduce society's utility.