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Demand Shifters

If oil is exp...

Question

If oil is expected to be scarce in the future, there will be a/an .

A

increase in demand

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B

decrease in demand

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C

more quantity demanded

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D

less quantity demanded

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Solution

The correct option is A increase in demand
If a commodity is expected to be scarce in the future, then there will be an increase in demand today. This implies a rightward shift of the demand curve.

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