As more people buy fuel-efficient hybrid cars, the demand for gasoline will decrease and the price of

Question:

“As more people buy fuel-efficient hybrid cars, the demand for gasoline will decrease and the price of gasoline will fall. The fall in the price of gasoline will decrease the supply of gasoline.” Is this statement true? Explain.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

See More Books

Question Posted: May 21, 2018 05:24 AM

See More Questions

Multiple Choice Questions: 1. Price elasticity of demand is said to be greater a. The shorter the period of time consumers have to adjust to price changes. b. The longer the period of time consumers...
As more people buy computers, the demand for Internet service increases and the price of Internet service decreases. The fall in the price of Internet service decreases the supply of Internet...
Policymakers frequently search for ways to reduce consumption of gasoline. One straightforward option is to tax gasoline thereby encouraging consumers to drive less in their cars and switch to more...
Which of the following exceptions do not need to be handled or declared by the method in which they are thrown? (Choose three.) A. FileNotFoundException B. ArithmeticException C. IOException D....
A cylindrical specimen of under formed brass that has a radius of 300 mm is elastically deformed to a tensile strain of 0.001. If Poisson's ratio for this brass is 0.35, what is the change in...
The Goodsmith Charitable Foundation, which is tax-exempt, issued debt last year at 9 percent to help financea new playground facility in Los Angeles. This year the cost of debt is 25 percent...
1. What is the purpose of investor communications? What do managers often believe the purpose is?
Analyze how candidates in a current political election appear to be leveraging the Internet as part of their campaigns, or not.
EXPLAIN PRODUCT FLOW THRU A JOB SHOP EXPLAIN OVERHEAD CONTROL ACCOUNT, OVERHEAD APPLIED ACCOUNT AND WHAT YOU DO IF THE TWO DON'T EQUAL
Suppose that you want to send an MP3 file to a friend, but your friends ISP limits the size of each incoming message to 1 MB and the MP3 file is 4 MB. Is there a way to handle this situation by using...
The table shows the demand and supply schedules for running shoes. What is the market equilibrium? If the price is $70 a pair, describe the situation in the market. Explain how market equilibrium is...
The table shows the demand and supply schedules for student workers at campus venues. If the college introduces a minimum wage of $11.50 an hour, how many students are employed and how many students...
Write B as a linear combination of the other matrices, if possible. -1 B = A, = A, = -3 2 A3
Describe in your own words how you would expect the data points on a scatterplot to be distributed if the following features were present (i.e. for each part, explain how the feature would look on a...
imagine this experimental setup: One temperature probe is in embedded in a small block of frozen sugar water at -20. The frozen sugar water is in a small test tube The melting/freezing point of this...
Question 2: (40 points: 10 each) During September, Sweet Foods manufactures a single product. The Company's material purchases amounted to 9,000 pounds at a price of $9.80 per pound. Actual costs...
E12-23 (Algo) (Supplement 12B) Preparing a Statement of Cash Flows, Indirect Method: T-Account Approach [LO 12-S2] Golf Goods Incorporated is a regional and online golf equipment retailer. The...
A symmetric compound channel in over bank flow has a main channel with a bottom width of 30 m, side slopes of 1:1, and a flow depth of 3m. The floodplains on either side of the main channel are both...
Evaluate the line integral in Stokes Theorem to evaluate the surface integral s ( F) n ds. Assume that n points in the positive z-direction. F = r/r; S is the paraboloid x = 9 - yz, for 0 x 9...
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
Some events change aggregate demand from AD 0 to AD 1 . Describe two possible events. What is the new equilibrium point? If potential GDP is $1 trillion, describe the type of macroeconomic...
Some events change aggregate supply from AS 0 to AS 1 . Describe two possible events. What is the new equilibrium point? If potential GDP is $1 trillion, does the economy have an inflationary gap, a...
Some events change aggregate demand from AD0 to AD 1 and aggregate supply from AS 0 to AS 1 . What is the new macroeconomic equilibrium? Use Figure 13.2 to work Problem. Initially, the economy is at...
You would like to have a balance of $600,000 at the end of 15 years from monthly savings of $900. If your returns are compounded monthly, what is the APR you need to meet your goal?
Explain the importance of covariance and correlation between assets and understanding the expected value, variance, and standard deviation of a random variable and of returns on a portfolio.
On August 1 , 2 0 2 3 , Mark Diamond began a tour company in the Northwest Territories called Millennium Arctic Tours. The following occurred during the first month of operations: Aug. 1 Purchased...

As more people buy fuel-efficient hybrid cars, the demand for gasoline will decrease and the price of

Question:

Step by Step Answer:

The first statement is correct As more people buy fuelefficient cars th...View the full answer

Foundations of Macroeconomics

Students also viewed these Business questions