In September 2005, destruction to U.S. gasoline refineries was caused by back-to-back storms along the U.S. Gulf Coast—Hurricane Katrina and Hurricane Rita
In one week, the average price of a gallon of gasoline in the United States increased by about 40 cents. Which of the following best explains why these events pushed up the price of gasoline? A) The demand curve for gasoline shifted to the left along the supply curve for gasoline.
B) The supply curve for gasoline shifted to the left along the demand curve for gasoline.
C) The demand curve for gasoline shifted to the right along the supply curve for gasoline.
D) The supply curve for gasoline shifted to the right along the demand curve for gasoline.
B
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The table above gives data for the nation of Mosh. In Mosh, equilibrium expenditure equals
A) $6 trillion. B) $10 trillion. C) $4 trillion. D) $9 trillion. E) $7 trillion.
The August schedule change added more time on the ground between flights to accommodate fuller planes and more connecting passengers. So far, so good. In September, Southwest's on-time rate ranked ____.
Fill in the blank(s) with the appropriate word(s).
Refer to the scenario above. Which of the following is true about this game?
A) This game has two dominant strategy equilibria. B) This game has multiple Nash equilibria. C) This game has a unique Nash equilibrium. D) This game does not have a dominant strategy equilibrium.
If Ap is total autonomous planned spending, c is the marginal propensity to consume, s is the marginal propensity to save, and Y is the equilibrium income level, then
A) Ap/Y. B) Y = Ap/s. C) sY. D) cAp.