« previous next »

Author Question: Suppose the price of gasoline and other petroleum products decline sharply. Which of the following ... (Read 57 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?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

The proportion of men and women with elevated blood pressure or taking hypertension medication incre The proportion of men and women with elevated blood pressure or taking hypertension medication incre
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Liquid Formulations of Herbal Products Liquid Formulations of Herbal 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 ...
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Products of Protein Breakdown Products of Protein Breakdown
Video: Simple Diffusion - gases and nonpolar compounds transport

For a complete list of videos, visit our video library