The above figures show the market for gasoline. Which figure shows the effect of motorists increasing the number of times they take the bus to work rather than driving their own cars?
A) Figure A
B) Figure B
C) Figure C
D) Figure D
B
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Your checking account balance would be counted in which measure of money?
A. M1 B. M2 C. Hard money D. It would be counted in both M1 and M2
Other things the same, an increase in the price level makes the dollars people hold worth
a. more, so they are willing to spend more. b. more, so they are willing to spend less. c. less, so they are willing to spend more. d. less, so they are willing to spend less.
Use the following table to answer the next question. The following national income data for an economy is in billions of dollars.Consumption$5,100Investment1,100Transfer payments1,050Government purchases1,400Exports850Imports950Net foreign factor income20GDP for this economy is ________.
A. $7,500 billion B. $6,400 billion C. $9,400 billion D. $10,470 billion
Usually, price elasticities of supply are
A) positive, because higher prices yield larger quantities supplied. B) considered short-run adjustments due to supply constraints. C) ordinarily a negative number based on the law of supply. D) an inverse relationship between price and quantity supplied.