An Increase in the Price of Gasoline Shifts the Demand

question 231

Multiple Choice

An increase in the price of gasoline shifts the demand for tires to the

• A)left, because gasoline and tires are substitutes.
• B)left, because gasoline and tires are normally used together.
• C)right, because gasoline and tires are substitutes.
• D)right, because gasoline and tires are normally used together.

Recognize the principles of cognitive, behavioral, and psychodynamic therapies.

Identify the therapeutic goals and techniques of psychoanalysis.

Understand the application of therapy techniques for specific phobias and anxieties.

Recognize the role of modeling in behavioral therapy.

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Definitions:

Ending Merchandise Inventory

The final value of a company's inventory at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.

Gross Profit Rate

The ratio of gross profit to net sales, expressed as a percentage, indicating the efficiency of sales relative to the cost of goods sold.

Net Sales

The revenue from goods or services sold after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Operating Expenses

Operating expenses are costs associated with running a business day-to-day, excluding costs linked to producing goods and services.