Which of the following is a description of price functioning as a signal when the price of gasoline rises?

A) Change in the price of gasoline helps coordinate market outcomes. B) The price change reflects and summarizes information about what is going on in the market for gasoline. C) Buyers and sellers change their demand and supply in response to the price change. D) The purchasing power of money is affected by the price change. A) Change in the price of gasoline helps coordinate market outcomes. B) The price change reflects and summarizes information about what is going on in the market for gasoline. C) Buyers and sellers change their demand and supply in response to the price change. D) The purchasing power of money is affected by the price change.

Exam 8: Gains From Trade

Exam 1: The Core Principles of Economics156 Questions

Exam 2: Demand: Thinking Like a Buyer165 Questions

Exam 3: Supply: Thinking Like a Seller168 Questions

Exam 4: Equilibrium: Where Supply Meets Demand191 Questions

Exam 5: Elasticity: Measuring Responsiveness182 Questions

Exam 6: When Governments Intervene in Markets265 Questions

Exam 7: Welfare and Efficiency208 Questions

Exam 8: Gains From Trade161 Questions

Exam 9: International Trade215 Questions

Exam 10: Externalities and Public Goods241 Questions

Exam 11: Labor Demand and Supply223 Questions

Exam 12: Wages, Workers, and Management154 Questions

Exam 13: Inequality, Social Insurance, and Redistribution190 Questions

Exam 14: Market Structure and Market Power216 Questions

Exam 15: Entry, Exit, and Long-Run Profitability217 Questions

Exam 16: Business Strategy148 Questions

Exam 17: Sophisticated Pricing Strategies170 Questions

Exam 18: Game Theory and Strategic Choices227 Questions

Exam 19: Decisions Involving Uncertainty201 Questions

Exam 20: Decisions With Private Information156 Questions

Exam 21: Sizing up the Economy Using Gdp204 Questions

Exam 22: Economic Growth137 Questions

Exam 23: Unemployment167 Questions

Exam 24: Inflation and Money158 Questions

Exam 25: Consumption and Saving158 Questions

Exam 26: Investment150 Questions

Exam 27: The Financial Sector137 Questions

Exam 28: International Finance and the Exchange Rate129 Questions

Exam 29: Business Cycles149 Questions

Exam 30: IS-MP Analysis: Interest Rates and Output123 Questions

Exam 31: Phillips Curve131 Questions

Exam 32: The Fed Model: Linking Interest Rates, Output, and Inflation125 Questions

Exam 33: Aggregate Demand and Aggregate Supply169 Questions

Exam 34: Monetary Policy130 Questions

Exam 35: Government Spending, Taxes, and Fiscal Policy178 Questions

Exam 36: Appendix: Aggregate Expenditure and the Multiplier78 Questions

Exam 8: Gains From Trade

Which of the following is a description of price functioning as a signal when the price of gasoline rises?

The Core Principles of Economics

Demand: Thinking Like a Buyer

Supply: Thinking Like a Seller

Equilibrium: Where Supply Meets Demand

Elasticity: Measuring Responsiveness

When Governments Intervene in Markets

Welfare and Efficiency

International Trade

Externalities and Public Goods

Labor Demand and Supply

Wages, Workers, and Management

Inequality, Social Insurance, and Redistribution

Market Structure and Market Power

Entry, Exit, and Long-Run Profitability

Business Strategy

Sophisticated Pricing Strategies

Game Theory and Strategic Choices

Decisions Involving Uncertainty

Decisions With Private Information

Sizing up the Economy Using Gdp

Economic Growth

Unemployment

Inflation and Money

Consumption and Saving

Investment

The Financial Sector

International Finance and the Exchange Rate

Business Cycles

IS-MP Analysis: Interest Rates and Output

Phillips Curve

The Fed Model: Linking Interest Rates, Output, and Inflation

Aggregate Demand and Aggregate Supply

Monetary Policy

Government Spending, Taxes, and Fiscal Policy

Appendix: Aggregate Expenditure and the Multiplier

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