In the First Few Months of 2012,the Price of Gasoline

question 48

Multiple Choice

In the first few months of 2012,the price of gasoline increased by approximately 15 percent.Because of this increase,we would expect the ________ curve in the market for hybrid cars to ________.

• A) demand; shift to the right
• B) demand; make no movement
• C) supply; shift to the left
• D) demand; shift to the left
• E) supply; shift to the right

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Definitions:

Substantive Unconscionability

Refers to a condition in contract law where the terms of a contract are extremely unfair or one-sided in favor of the party who has the superior bargaining power.

Administrative Costs

Expenses related to the general operation of an organization, such as salaries of non-production staff, office supplies, and utilities.

GDP

Gross Domestic Product, a financial measure representing the total market value of all final goods and services produced within a country in a given period.

Health Care

The maintenance or improvement of health via the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in people.