Multiple Choice
Recall Application 3, "How the U.S. Economy has Coped with Oil Price Fluctuations," to answer the following questions:
-According to the application, the price of gasoline in the U.S. in 2008 shot up as high as _______ per gallon.
A) $2.50
B) $8.00
C) $4.00
D) $10
Correct Answer:

Verified
Correct Answer:
Verified
Q164: If the marginal propensity to consume is
Q165: Many economists have argued that oil prices
Q166: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5231/.jpg" alt=" Figure 9.4 -Refer
Q167: Recall Application 2, "Two Approaches to Determining
Q168: If the economy is in long run
Q170: Recall Application 3, "How the U.S. Economy
Q171: The multiplier is always larger than one.
Q172: Custom prices are also known as:<br>A) flexible
Q173: Because the long run aggregate supply curve
Q174: If prices are sticky, output in an