Hurricane Katrina damaged a large portion of oil refining and pipeline capacity in the Gulf coast states. In the market for gasoline,
A) the demand curve shifted to the left resulting in a decrease in the equilibrium price.
B) the demand curve shifted to the right resulting in an increase in the equilibrium price.
C) the supply curve shifted to the left resulting in an increase in the equilibrium price.
D) the supply curve shifted to the right resulting in an increase in the equilibrium price.
C
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In 2008, inflation exceeded expected inflation. In 2009, expected inflation exceeded inflation
Therefore the real interest rate was ________ than the expected real interest rate in 2008 and the real interest rate was ________ than the expected real interest rate in 2009. A) less; less B) less; greater C) greater; less D) greater; greater
According to the definitions of national saving and private saving, if Y, C, and G remained the same, an increase in taxes would
a. raise both national saving and private saving. b. raise national saving and reduce private saving. c. leave national saving and private saving unchanged. d. leave national saving unchanged and reduce private saving.