Which of the following would cause a rightward shift in the demand curve for gasoline?
I. A large increase in the price of public transportation.
II. A large decrease in the price of automobiles.
III. A large reduction in the costs of producing gasoline.
A) I only
B) II only
C) I and II only
D) II and III only
E) I, II, and III
C
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In the case of global pollution, a nation that pollutes gets benefit from production but:
a. has to pay for it in terms of dirty air and water. b. never receives any negative consequences. c. cannot control the amount of pollution by private firms. d. will not suffer the full costs of its own pollution and so has little incentive to control it.
There has been a decrease in investment. As a result, real GDP will ________ in the short run, and ________ in the long run
A) decrease; decrease further B) increase; decrease to its initial value C) increase; increase further D) decrease; increase to its initial level