Which of the Following Would Shift the Demand Curve for Gasoline

question 93

Multiple Choice

Which of the following would shift the demand curve for gasoline to the right?

• A)A decrease in the price of gasoline
• B)An increase in consumer income, assuming gasoline is a normal good
• C)An increase in the price of cars, a complement for gasoline
• D)A decrease in the expected future price of gasoline

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Definitions:

Real Interest Rates

The interest rate adjusted for inflation, reflecting the true cost of borrowing and the real yield to the lender or investor.

Price Level

An overall mean of the current prices for goods and services in the economic territory.

Value of Money

The purchasing power of money, which reflects the amount of goods or services that one unit of money can buy.

Dollars

The currency unit used in the United States, representing a standard measure of value.