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The Wall Street Journal (newspaper) of September 9, 2016, reported on recent increases in the price of gasoline. The article stated "higher prices for gasoline are decreasing the demand for gasoline." Which of the following statements accurately describes the economics of the quotation? A. The quotation would be correct if "supply" was substituted for "demand." B. None of the other responses is correct. C. The quotation would be correct if "quantity demanded" was substituted for "demand." D. The quotation would be correct if "increasing the demand" was substituted for "decreasing the demand." E. The analysis in the quotation is correct.
Consider two firms, 1 and 2, each producing an identical good simultaneously. This good has market demand given by the inverse demand function , where is price, and is market quantity. represents the amount produced by firm . Suppose production cost ..
What are the major theoretical rationales behind the ISI (import substitution industrialization) strategy? How do you evaluate its success and/or failure? What developments were responsible for its termination in most Third World countries?
The graph above depicts a situation where, if the market demand for the product increases, the prices of the resources used by the firms in the industry would
Your text raises the notion of a "representative bureaucracy." Presumably at its heart this means that the people fleshing out the bureaucracy would have demographic characteristics of the general population.
Analyze your chosen topic from the basis of our course content by beginning with an underlined thesis statement (purpose) in the first paragraph. Then use each paragraph to analyze a separate concept, theory, or principle from the text which helps ex..
Explain using the money market graph, what happens when (1) the price level (CPI) goes up, (2) when the discount rate is lowered and (3) when the Fed sells more bonds on the market. What will happen to the equilibrium interest rate in each case.
What were some continuities and changes in American foreign policy between 1865 and 1945? And how did domestic affairs influence changes in American foreign policy towards areas like Latin American, Europe and East Asia?
Which of the following statements concerning the long-run average cost curve of economic theory is (are) not true?
Suppose a town is interested in providing a public good, crime prevention, to a community. There are two people who live in this community Sam and Sara. Sam's demand curve for crime prevention is given by q(Sam)= 100-2p and Sara's demand for crime pr..
Which of the following is not an accurate description of what can cause inflation?
The study of government regulation and the competitive environment for business is relevant to all those who study business. All business candidates need to understand how the competitive environment will impact their employers and businesses.
q.in 1950s mahjong was illegal in taiwan. given the enjoyment of playing such a fun game this is surely inefficient.
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