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:

Equity Changes

Refers to the alterations in the owners' equity over a specific period due to net income, dividend payments, and capital injections.

Compound Entry

An accounting entry that involves multiple debits and/or credits in a single journal entry, typically used when a transaction affects more than two accounts.

Income Statement

A financial statement that provides a summary of a company's revenues, expenses, and profits or losses over a specific period of time.

Revenues

Aggregate income produced from the core activities of a business, mainly through the sale of goods and services.