Ajournalist wrote the following about the effects of falling gasoline prices:
"with lower prices, demand rises and people consume more."
source: jeff sommer, "cheaper oil, fatter wallets and a national opportunity," new york times, december 20, 2014. briefly explain whether you agree with the journalist's analysis. the journalist's statement is
a. true because a decrease in the price of gasoline would result in an increase in quantity demanded, not an increase in demand, for gasoline.
b. true because a decrease in the price of gasoline would result in an increase in demand, not an increase in quantity demanded, for gasoline.
c. not true because a decrease in the price of gasoline would result in an increase in demand, not an increase in quantity demanded, for gasoline.
d. not true because a decrease in the price of gasoline would result in an increase in quantity demanded, not an increase in demand, for gasoline.