If We Are Comparing the Price of Regular Gasoline with the Price

question 80

Multiple Choice

If we are comparing the price of regular gasoline with the price of super gasoline, then an increase in the relative price of regular gasoline implies that

• A) the nominal price of regular gasoline increased.
• B) the nominal price of super gasoline decreased.
• C) the relative price of super gasoline decreased.
• D) the relative price of regular gasoline increased.

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Definitions:

Income

Recurrent earnings sourced from occupational activities or investments.

Entertainment Tax

A tax imposed on services related to entertainment such as movies, events, and amusement parks, often collected to contribute to the public treasury.

Streaming Movies

The process of watching movies over the internet in real-time, without the need to download them, through services like Netflix, Hulu, or Amazon Prime.

Movie Tickets

Physical or digital passes that allow an individual access to watch a movie at a cinema or theatre.