Homework Answers
Here from the given question in the peak summer the price of gasoline dropped substantially which means it will benefit to the consumers and there will be rise in the aggregate demand
Aggregate demand shows the inverse relationship between price level and real GDP of the economy
This happening will more likely to have rightward shift of the aggregate demand curve from below
Answer is option A
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After peaking in the summer of 2008 (at around $4 per gallon) the price of gasoline...
The U.S. experienced a major recession in 2008 & 2009? What is likely to happen to...
The U.S. experienced a major recession in 2008 & 2009? What is likely to happen to the price level and real GDP in Canada (our biggest trade partner) as a result? Select one: a. The price level and real GDP will both increase b. The price level and real GDP will both decrease C. The price level will increase, but real GDP will decrease d. The price level will decrease, but real GDP will increase e. The U.S. economy does...
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What is most likely to happen to the price level and real GDP if the Fed targets a lower Federal Funds Rate? Select one: a. Price level and real GDP will both increase b. Price level and real GDP will both decrease c. Price level will increase, but real GDP will decrease d. Price level will decrease, but real GDP will increase e. Real GDP will increase, but the price level would remain the same
What is most likely to happen to the price level and real GDP if the Fed...
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Pump prices slide as crude oil falls to six-year low The average price for regular gasoline...
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The government spends trillions of dollars to stimulate the economy and at the same time they significantly raise minimum wage. What would happen to the price level and real GDP as a result? Select one: a. The price level will rise, but real GDP can increase, decrease or remain the same b. The price level will decrease, but real GDP can increase, decrease or remain the same c. Real GDP will rise, but the price level can increase, decrease or...
Cal Overhaut operates an ExxonMobil gas station franchise in Fitzhugh, MD. The price of gasoline is...
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Question Completion Status: QUESTION 18 Price (per gallon) $5 S1 4 S2 3 2.50 2 1.50...
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Question Completion Status: QUESTION 18 Price (per gallon) $5 S1 4 S2 3 2.50 2 1.50...
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The U.S. experienced a major recession in 2008 & 2009? What is likely to happen to the price level and real GDP in Canada (our biggest trade partner) as a result? Select one: a. The price level and real GDP will both increase b. The price level and real GDP will both decrease C. The price level will increase, but real GDP will decrease d. The price level will decrease, but real GDP will increase e. The U.S. economy does...
Pump prices slide as crude oil falls to six-year low The average price for regular gasoline at U.S. pumps fell almost 4 cents in March to $2.50 a gallon. The price of crude oil dropped to $43.46 per barrel on March 17, the lowest since March 2009 Source: Bloomberg Business, March 23, 2015 Explain the effect of a lower crude oil price on the supply of gasoline. A fall in the price of crude oil will O A. lower the...
In June 2008, when gasoline prices were at an all-time high (more than $3.99 per gallon), Chrysler Motor Company promoted its Jeep vehicle with the offer of either $4,400 off the price of the vehicle or the guarantee that the buyer would not pay more than $2.80 per gallon of gas for the next 3 years (the details of the guarantee could vary by dealer) Required: 1. Assume that the Jeep vehicle you are interested in gets 15 mpg combined...
The government spends trillions of dollars to stimulate the economy and at the same time they significantly raise minimum wage. What would happen to the price level and real GDP as a result? Select one: a. The price level will rise, but real GDP can increase, decrease or remain the same b. The price level will decrease, but real GDP can increase, decrease or remain the same c. Real GDP will rise, but the price level can increase, decrease or...
Cal Overhaut operates an ExxonMobil gas station franchise in Fitzhugh, MD. The price of gasoline is volatile and varies greatly from day to day. The price per gallon varies based on the seasonal blend of gasoline, which is determined by clean-air requirements, and Cal's pricing choices are limited to the profit margin for his price Base price of unleaded regular delivered in New York harbor (Sept 2018) Added cost to Cal: Maryland state gasoline tax Federal gasoline tax Delivery Advertising...
Question Completion Status: QUESTION 18 Price (per gallon) $5 S1 4 S2 3 2.50 2 1.50 D 0 100 200 300 400 500 600 Quantity of gasoline (per month) The figure above shows the gasoline market. Assuming the market is currently at equilibrium with S1, what would happen if a price was set at $2.00? Demand decreases O Pressures the price to rise O No effect on price O Pressures the price to fall
Question Completion Status: QUESTION 18 Price (per gallon) $5 S1 4 S2 3 2.50 2 1.50 D 0 100 200 300 400 500 600 Quantity of gasoline (per month) The figure above shows the gasoline market. Assuming the market is currently at equilibrium with S1, what would happen if a price was set at $2.00? Demand decreases O Pressures the price to rise O No effect on price O Pressures the price to fall
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