« previous next »

Author Question: Suppose the price of gasoline and other petroleum products decline sharply. Which of the following ... (Read 70 times)

Jramos095

  • Hero Member
  • *****
  • Posts: 528
on: Jun 30, 2018
Suppose the price of gasoline and other petroleum products decline sharply. Which of the following will most likely occur as a result of the lower petroleum prices?
 a. an increase in demand for solar heating systems
 b. an increase in demand for larger, more powerful automobiles
  c. an increase in demand for home insulation products
 d. an increase in demand for gasoline

Question 2

In the short run, a decrease in the price level:
 a. decreases output prices relative to input prices.
  b. increases the profit margins of many producers.
  c. decreases RGDP supplied.
 d. both (a) and (c)


johnharpe

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Liquid Formulations of Herbal Products Liquid Formulations of Herbal Products
Indications for Blood Products Indications for Blood Products
Educate clients about products related to massage therapy and the clients’ health goals without ... Educate clients about products related to massage therapy and the clients’ health goals without ...
Forest products and the economic value Forest products and the economic value
Disitive Time For Milk Products Disitive Time For Milk Products
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Video: Chemical Messengers Animation

For a complete list of videos, visit our video library