Which of the following events would lead to a decrease in demand for air travel?
A. A decrease in rail fares
B. An increase in income levels
C. A decrease in the number of people who are afraid to fly
D. A decrease in oil prices
Answer: A
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Refer to Common Property I. The efficient level of production and consumption on the common property is
a. zero. b. Q1. c. Q2 d. cannot be determined from the graph.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
When a firm is experiencing increasing marginal costs, it implies
a. There are constant marginal productivity b. There are decreasing average costs c. There are decreasing marginal productivity d. There are increasing marginal productivity
An upward shift of the consumption function might be caused by _____
Fill in the blank(s) with the appropriate word(s).