Assume that the market for consumer gasoline is perfectly competitive. When one additional seller (gas station) enters the market,
A) then at least one other seller must exit the market.
B) the price of gasoline increases.
C) the price of gasoline is left unaffected.
D) the price of gasoline decreases.
E) None of the above is correct.
Question 2
Ricardian equivalence is the proposition that
A) government expenditure should only be financed by taxes.
B) it does not matter whether government expenditure is financed by creating new money or issuing debt.
C) government expenditure should only be financed by issuing new debt.
D) it does not matter whether government expenditure is financed by taxes or debt.
Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt
E10 is 10% ethanol and 90% gasoline.
A container with gasoline containing alcohol. Notice the separation line where the alcohol-water ...
Tall safety stands can be used to provide additional support for the vehicle while on the hoist.
A gasoline direct-injection system injects fuel under high pressure directly into the combustion ...
Markets and Institutions Market Story Problem