Suppose the Price of Crude Oil Used to Produce Gasoline

question 202

Multiple Choice

Suppose the price of crude oil used to produce gasoline rises significantly. At the same time, consumers purchase hybrid cars in great numbers. In the market for gasoline, demand shifts to the ________ and supply shifts to the ________.

• A) left, left
• B) left, right
• C) right, left
• D) right, right

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Definitions:

ASCII

A standard for the encoding of characters as integers, allowing digital representation of text.

Character Code

A numeric code that represents a specific character in a character set, such as ASCII or Unicode.

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A base-2 numeral system or binary system, represents numeric values using two symbols: 0 and 1.

Text

A sequence of characters or symbols that convey meaningful information, usually meant to be read.