Other Things Equal,which of the Following Might Shift the Demand

question 144

Multiple Choice

Other things equal,which of the following might shift the demand curve for gasoline to the left?

• A) The discovery of vast new tar sands oil reserves in Canada
• B) The development of a low-cost electric automobile
• C) An increase in the price of train and air transportation
• D) A large decline in the price of automobiles

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Definitions:

Price of Clothing

The amount of money required to purchase garments, influenced by factors like brand, quality, and market demand.

Economic Stimulus Package

A set of economic measures put forth by a government to stimulate a floundering economy and promote growth.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can purchase at given prices within his or her income.

Indifference Map

A graphical representation of combinations of goods between which a consumer is indifferent, showing preferences and trade-offs.