If Price Gouging Is Prohibited by the Government So That

question 150

Multiple Choice

If price gouging is prohibited by the government so that sellers cannot suddenly raise prices, then a sudden drop in gasoline supply due to bad weather will most likely result in

• A)an equilibrium in the gasoline market.
• B)a surplus in the gasoline market.
• C)a shortage in the gasoline market.
• D)a sudden increase in the quantity demanded of gaslone.
• E)a sudden decrease in gasoline prices.

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Definitions:

Never-married Mothers

Mothers who have children but have never been married.

Peers

Individuals who are of similar age, status, or interest, often influencing social behavior and interpersonal relationships.

Involuntary Temporary

Pertains to a situation or condition that is not chosen or desired by the individual and is expected to last for only a limited period.

Economic Autonomy

The ability for an individual, group, or country to make independent economic decisions.