PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: miraje who wrote (426792)	7/14/2003 4:20:36 PM
From: Raymond Duray	Read Replies (1) of 769670

Bowers, Re: WHEN PRICES RISE, CONSUMPTION DROPS. Econ 101. DUHHH!!!!!!!! You are right. Your explanation does sound far too elementary. When a motor vehicle fleet is created, including gas guzzling SUVs, demand tends to be inelastic on the downward side. Therefore, consumption rises due to poor consumer choices in vehicle purchases and prices rise because production isn't creating any surpluses in supply. So, we get the worst of all worlds. High prices and excessive consumption. Thus has America turned Econ 101 on its head. ECON 409?

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