Quantity igallons of gas) Quantity Igallons of gas) 24) The above figures show t
ID: 1138418 • Letter: Q
Question
Quantity igallons of gas) Quantity Igallons of gas) 24) The above figures show the market for gasoline. Which figure(s) shows the effect of a nation-wide strike by municipal bus drivers, which causes more people to drive their cars to work? 24 A) Figure A B) Figure B C) Figure C D) igure D Nominal GDP Real GDP Year (billions of dollars) 5,200 5,500 5,750 (billions of 2000 dollars) 4,800 GDP deflator 2004 112. 2005 2006 5,000 e table gives the real and nominal GDP or a hypothetical nation.What is lator for 2004? A) 105.2 C) 108.3 B) 109.6Explanation / Answer
Solution-
Car insurance and cars are complements. If the price of car insurance increases, the demand for cars decreases.
The correct option is C. demand for cars decreases.
In the figure above, a price of $15 per dozen roses results in a shortage.
The correct option is B. a shortage.
The above figure shows the market for game day t-shirts. If the price of t-shirts is $8, then there is a shortage and the price of t-shirts will rise.
The correct option is C. there is a shortage and the price of t-shirts will rise.
The above figure shows the market for game day t-shirts. If the price of t-shirts is $10, then the market is in equilibrium.
The correct option is D. the market is in equilibrium.
The above figure shows the market for game day t-shirts. If the price of t-shirts is $12, then there is a surplus and the price of t-shirts will fall.
The correct option is D. there is a surplus and the price of t-shirts will fall.
The above figure shows the market for game day t-shirts. If the price of t-shirts is $8, then the quantity demanded is greater than quantity supplied.
The correct option is A. the quantity demanded is greater than quantity supplied.
Computer chips are a normal good. Suppose the economy slips into a recession so that income falls. As a result, the demand for computer chips Decreases so that the price of a computer chip Falls.
The correct option is B. decreases; falls.
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