At an Equilibrium Price for Gasoline

question 193

Multiple Choice

At an equilibrium price for gasoline,

• A)everyone with the desire and the income to buy gasoline at that price can do so.
• B)surpluses are inevitable.
• C)inherent market forces will eventually change the quantities demanded and supplied.
• D)suppliers must be using the most efficient oil-drilling equipment available.

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Definitions:

Annual Contributions

Regular amounts added to an investment, savings account, or retirement fund once every year.

Compounded Semi-Annually

Interest that is compounded semi-annually is applied to the principal amount twice a year, leading to an increase in the overall amount of interest earned compared to simple interest.

RRSP

Registered Retirement Savings Plan, a tax-deferred account aimed at helping Canadians save for retirement.

Annual Contributions

Payments or deposits made into a financial account or investment plan once every year.