Other Than OPEC,the Shortage of Gasoline in the U

question 8

Multiple Choice

Other than OPEC,the shortage of gasoline in the U.S.in the 1970s could also be blamed on

• A)a sharp increase in the demand for gasoline that was brought on by the Vietnam War.
• B)the government's policy of maintaining a price ceiling on gasoline.
• C)an indifference among U.S.consumers toward conservation.
• D)the lack of substitutes for crude oil.

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Definitions:

Liabilities

Financial obligations or debts owed by a business to creditors, which are expected to be settled through the transfer of assets or provision of services.

Current Ratio

A financial ratio that evaluates a firm's capacity to meet its short-term liabilities, which are due within a year.

Current Assets

Resources anticipated to be turned into cash, disposed of, or used up within a year or during the standard operational cycle of the company.

Current Liabilities

Short-term financial obligations that are due within one year or within a company's operating cycle.