If the price of propane-fueled gas grills was to decrease, then
A) the demand for propane would decrease.
B) the demand for propane would increase.
C) the quantity of propane demanded would increase.
D) the quantity of propane demanded would decrease.
Answer: B
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The only difference between adaptive and rational expectations is that the theory of adaptive expectations assumes economic agents to be irrational
a. True b. False Indicate whether the statement is true or false
Since externalities tend to keep markets from reaching a socially optimal equilibrium, government action
a. is always needed because private solutions can never be attained. b. is needed when private solutions fail to arise. c. will be needed only to correct for positive externalities. d. will be needed only to correct for negative externalities.
If population growth is less than output growth for a country,
A. The per capita living standard will increase. B. GDP must have fallen at a fairly rapid rate. C. Average living standards will decrease. D. Real GDP has decreased.
The interest rate is the opportunity cost
A. of investing in Treasury securities. B. of using credit cards. C. of holding money. D. of investing in stocks.