The price of gasoline has risen and the quantity sold has fallen. This was likely caused by
a. a rise in the price of crude oil.
b. a seasonal rise in the demand for gasoline.
c. use of a new public transit system.
d. the discovery of crude oil in New Jersey.
a
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The shifts of the short-run and long-run Phillips curves in the figure above are the result of
A) an increase in the expected inflation rate. B) an increase in the natural unemployment rate. C) a decrease in the natural unemployment rate. D) an increase in the actual inflation rate. E) a decrease in the expected inflation rate.
A duopoly is a form of
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
Ceteris paribus, when resource prices increase, demand decrease and the prince increase.
a. true b. false
Professional securities analysts achieve high rate of investment success following a random walk strategy.
Answer the following statement true (T) or false (F)