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Home Q & A Board Other Fields Homework Help Business Economics
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Sublight2097 Sublight2097
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Posts: 4132
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8 years ago
If the price of gasoline rose 50% during a period in which the general price level rose 100%, economic theory would predict
A) a decline in the quantity of gasoline demanded.
B) an increase in the quantity of gasoline demanded.
C) a decrease in the demand for gasoline.
D) an increase in the supply of gasoline.
E) less driving by motorists.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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Chimelo46Chimelo46
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#1
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Another one in the books, marking it solved.
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#3
8 years ago
The textbook reference in your signature really helped me narrow it down.

Happy to help Wink Face
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