Assume there is a reduction in the shipments of petroleum products due to political tension in the Persian Gulf. Which of the following would not be expected to happen?
A) Oil companies would "ration" their supplies of gasoline by raising price.
B) There would be a shortage of the original equilibrium price.
C) Quantity demanded would decrease.
D) The demand curve would shift to the left.
D
Economics
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Marginal cost is the increase in total ________ that results from a one-unit increase in ________
A) fixed cost; the fixed input B) cost; output C) variable cost; the variable input D) fixed cost; output
Economics
Assume a country has presidential elections every three years. If a political business cycle exists in this country, explain any differences in the average annual growth rates of output for each year of a typical administration
What will be an ideal response?
Economics