« previous next »

Author Question: There is an increase in both consumer income and in the price of jet fuel, an important resource ... (Read 61 times)

shofmannx20

  • Hero Member
  • *****
  • Posts: 562
on: Jun 30, 2018
There is an increase in both consumer income and in the price of jet fuel, an important resource used to produce air travel. If air travel is a normal good, how will these changes influence the price and quantity purchased of air travel? The change in the price of air travel will (be) ____ and the change in the quantity purchased will (be) ____.
 a. indeterminate; decrease
  b. increase; indeterminate
  c. decrease; indeterminate
  d. indeterminate; increase

Question 2

Supply-side economics stress that:
 a. aggregate demand is the major determinant of real output and aggregate employment.
 b. tax rates are not a major determinant of real output and aggregate employment.
 c. an increase in government expenditures financed by higher tax rates will cause RGDP to rise.
  d. marginal tax rate changes can exert a significant impact on RGDP, even in the long run.


mceravolo

  • Sr. Member
  • ****
  • Posts: 349
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?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

A Mitochondrion Converts Energy from Fuel Molecules into ATP A Mitochondrion Converts Energy from Fuel Molecules into ATP
The oxygen sensor provides a quick response at the stoichiometric air–fuel ratio of 14.7:1. The oxygen sensor provides a quick response at the stoichiometric air–fuel ratio of 14.7:1.
The fuel pickup tube is part of the fuel sender and pump assembly. The fuel pickup tube is part of the fuel sender and pump assembly.
A dual-nozzle TBI unit on a Chevrolet 5.0 L V-8 engine. The fuel is squirted above the throttle ... A dual-nozzle TBI unit on a Chevrolet 5.0 L V-8 engine. The fuel is squirted above the throttle ...
A typical camshaft-driven high-pressure pump used to increase fuel pressure to 2,000 PSI or higher. A typical camshaft-driven high-pressure pump used to increase fuel pressure to 2,000 PSI or higher.
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Video: Medullary osmotic gradient - influencing factors

For a complete list of videos, visit our video library