The Price of Gasoline Is Generally Higher in Hawaii Than

question 15

Multiple Choice

The price of gasoline is generally higher in Hawaii than in the continental United States. Therefore, the Hawaiian legislature passed a law forbidding gas stations from charging a price higher than the average price of gas on the West Coast of the United States. This is an example of:

• A) a price floor.
• B) a price ceiling.
• C) a quota.
• D) a tax.

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Definitions:

Potential

The capacity to develop, grow, or come into being; latent qualities or abilities that may be developed.

Fulfilling Life

A concept referring to a life filled with meaning, satisfaction, and happiness as perceived by the individual.

Rational Emotive Therapy

A form of psychotherapy that helps individuals identify self-defeating thoughts and feelings, challenge the rationality of those feelings, and replace them with healthier, more productive beliefs.

Cognitive

Pertaining to mental processes such as perception, memory, thinking, and problem solving.