Gasoline prices increase by 50 percent and other things remain the same. As a result, there is
A) an increase in the demand for gasoline.
B) a decrease in the demand for gasoline.
C) no change in the quantity of gasoline demanded.
D) a decrease in the quantity of gasoline demanded.
E) More information is needed to determine if the demand for gasoline increases or decreases.
D
Economics
You might also like to view...
What is the key proposition of new growth theory that makes economic growth persist?
What will be an ideal response?
Economics
Capital depreciation measures
a. net investment less gross investment b. the loss of productive ability due to capital intensive production c. capital that is wasted in the production process d. the value of existing capital stock used up in the production process e. the decline in the value of inventories caused by inflation
Economics