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What effect should each of the following have on the demand for gasoline in a competitive market? State what happens to demand. Explain your reasoning in each case and relate it to a demand determinant.
a. an increase in the number of cars
b. the economy moves into a recession
c. an increase in the price of car insurance, taxes, maintenance
d. consumer expectations of substantial price increases in gasoline
Many demographers predict that the United States will have zero population in the 21st century in contrast to average population growth of about 1 percent per year in the 20th century. Use the Solow model to forecast the effect.
gold standard amp quantitative easingthe u.s. dollar is classified as fiat money and is not fixed to the value of any
Few states in the U.S. permit citizens to openly carry handguns. People can save themselves in the case of robberies or harm by using these guns.
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
If you invest $10,000 in this certificate at the beginning of year one and do not add or withdraw any money for five years what is the value of the certificate at the end of the fifth year?
you are the oil minister of one of 5 key opec countries. the world demand for oil can be reduced to q 100 - p and
1. If interest rates or opportunity costs investment, happened to be the same in both developed countries and emerging economy nations, what could account for faster upward shifts in the latter group's planned investment functions 2.Are stocks of ..
why dont economists use the same cost data as accountant use? why are costs important in economics? how do firms
The price elasticity of demand for fresh tomatoes has beenestimated to be -2.22. If a new insecticide and fertilizertreatment yields a 20percent increase in the nation's fresh tomatocrop, how will that affect total expenditures on fresh tomatoes
According to Emerson: "Want is a growing giant whom the coat of Have was never large enough to cover." According to economists, "Want" exceeds "Have" because: The regulatory mechanism of the market system is:
what impact will an unanticipated increase in the money supply have on the real interest rate real output and
formulate a hypothetical problem and analyze or show how you would solve the five economic tools from your textbook. be
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