-The Table Above Shows the Situation in the Gasoline Market

question 41

Multiple Choice

-The table above shows the situation in the gasoline market in Tulsa,Oklahoma.If the price of a gallon of gasoline is $3.73,then

• A) there is a surplus of gasoline in Tulsa.
• B) there is a shortage of gasoline in Tulsa.
• C) the gasoline market in Tulsa is in equilibrium.
• D) without more information we cannot determine if there is a surplus, a shortage, or an equilibrium in the gasoline market in Tulsa.
• E) there is neither a surplus nor a shortage, but the market is NOT in equilibrium.

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Definitions:

Store

To keep or accumulate something for future use.

Environmental Stimuli

Physical or sensory events that occur outside of an organism but which influence its behavior or responses.

Guthrie

Edwin Ray Guthrie, a behaviorist psychologist known for his "contiguity theory" which emphasized that learning occurs through association of stimuli occurring together in time.

Associated Response

A reaction that is commonly linked or connected to a specific trigger or set of conditions.