In 2006, the Base Price of a Hummer SUV Was

question 41

Multiple Choice

In 2006, the base price of a Hummer SUV was about $30,000. By 2008 as gasoline prices increased,

• A) the demand curve for Hummers shifted rightward and Hummer prices increased.
• B) the demand curve for Hummers shifted leftward and Hummer prices decreased.
• C) there was a movement up along the Hummer supply curve.
• D) there was a movement down along the Hummer demand curve.