High gasoline prices give people all of the following incentives EXCEPT
A) to drive less.
B) to car pool.
C) to buy a hybrid car.
D) to take vacations that require driving more miles.
D
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A bond with default risk will always have a ________ risk premium and an increase in its default risk will ________ the risk premium
A) positive; raise B) positive; lower C) negative; raise D) negative; lower
The long-run supply curve in a constant-cost industry is linear and
A) upward-sloping. B) downward-sloping. C) horizontal. D) vertical. E) could have any constant slope.
The elasticity approach to measuring the sensitivity of quantity demanded to changes in price differs from using the slope because the elasticity approach calculates the ratio of the
a. absolute change in price to the absolute change in quantity demanded b. absolute change in quantity demanded to the percentage change in price c. absolute change in quantity demanded to the percentage change in price d. percentage change in quantity demanded to the percentage change in price e. average change in price to the average change in quantity demanded
In the above figure, which point corresponds to an increase in technology?
A) Figure A B) Figure B C) Figure C D) Figure D