02 May Question: Question 11 0.4 pts A new tax on gasoline causes a reduction in the purchase of new vehicles with…
Question 11 0.4 pts A new tax on gasoline causes a reduction in the purchase of new vehicles with poor fuel economy. This is an example of what type of incentive? O negative direct O positive indirect O The tax does not provide an incentive. O negative indirect O positive direct Question 12 0.4 pts The system encourages innovation by creating a powerful financial reward for creativity O trade-off O tax credit O patent direct incentive indirect incentive Question 13 0.4 pts When the price of erasers increases from $1.50 to $2.50, the quantity demanded of pencils is unchanged. The cross-price elasticity of demand between erasers and pencils is because erasers and pencils are 0 0; unrelated * complements ○ 1: substitutes 0 %; complements O 0; normal goods
Question 14 0.4 pts The usual purpose of an experiment is to formulate a hypothesis that explains a phenomenon. observe an interesting phenomenon. turn a hypothesis into a theory. construct a model based on a hypothesis O test a model that is based on a hypothesis Question 15 0.4 pts Oil is a main component in the manufacture of plastic bags. If the price of oil were to increase, the price of plastics bags wouldand the quantity would_-‘ decrease; increase increase; decrease increase; stay the same O decrease; decrease
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