Some oil refineries were damaged by Hurricane Ike of 2008, leading to
A) a decrease in supply of gasoline.
B) a decrease in quantity supplied of gasoline.
C) a decrease in demand for gasoline.
D) a decrease in quantity demanded for gasoline.
A
You might also like to view...
In an oligopoly with differentiated products, firms ________
A) make positive economic profits B) incur losses C) earn zero economic profits D) do not face competition from its rivals
Because of voter rational ignorance, the government might not produce the efficient quantity of a public good
Indicate whether the statement is true or false
Which of the following is NOT an appropriate role for government to play in the economy?
A. Addressing externalities B. Promoting free speech in marketing C. Redistributing income D. Regulating markets
B. how to distribute resources equally among all members of society. C. that people's means often exceed their wants. D. that people do not know how to rationally allocate resources
A. virtually unlimited resources to satisfy virtually unlimited wants. B. limited resources to satisfy virtually unlimited wants. C. unlimited resources to satisfy limited wants. D. limited resources to satisfy limited wants.