Multiple Choice
In the late 1970s,Canadians bought smaller cars that used less gasoline.We can conclude that consumers were responding to the fact that
A) the nominal price of gasoline had risen.
B) the nominal price of gasoline had fallen.
C) the nominal price of gasoline was unchanged.
D) the average price of gasoline had risen.
E) the nominal price of gasoline had risen much more rapidly than the average rate of increase for other nominal prices.
Correct Answer:

Verified
Correct Answer:
Verified
Q145: In general,if the marginal utility of the
Q146: If a person is consuming two goods,the
Q147: If the absolute value of the percentage
Q148: Which of the following is NOT true
Q149: The percentage change in quantity demanded divided
Q151: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3714/.jpg" alt=" -Refer to the
Q152: Total revenue is<br>A) what the firm seeks
Q153: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3714/.jpg" alt=" -Refer to the
Q154: Consumers who buy luxury cars tend to
Q155: In general,demand for a good will be