To Keep the Price of Gas from Rising Quickly After

question 34

Multiple Choice

To keep the price of gas from rising quickly after Katrina, the government instituted price ceilings on the price of gasoline in some states.These price ceilings caused ______ in the gasoline market.

• A)surpluses
• B)movement of the demand curve
• C)movement along the demand curve
• D)shortages

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Definitions:

Transcontinental Railroad

A continuous network of railroad trackage that crosses a continental land mass with terminals at different oceans or continental borders.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods and services that can be produced using all available resources efficiently.

Computerization

The process of applying computers and technology to automate tasks, improve efficiency, and store and process information.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods and services that can be produced with limited resources.