Gasoline prices typically rise during the summer, a time of heavy tourist traffic. A street talk feature

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Gasoline prices typically rise during the summer, a time of heavy tourist traffic. A “street talk” feature on a radio station sought tourist reaction to higher gasoline prices. Here was one response: “I don’t like

’em [the higher prices] much. I think the gas companies just use any excuse to jack up prices, and they’re doing it again now.” How does this tourist’s perspective differ from that of economists who use the model of demand and supply? LOP7

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Principles Of Macroeconomics

ISBN: 9780691170817

1st Edition

Authors: Libby Rittenberg, Timothy Tregarthen

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