A State Implemented a Much Needed Hike in Gasoline Prices,increasing

question 66

Multiple Choice

A state implemented a much needed hike in gasoline prices,increasing it by $2.This was followed by a public outcry against the price rise.A year later,the state further increased gasoline prices by half a dollar.This time round,the public accepted it as essential even though there was a general murmur of dissatisfaction.Which of the following will best explain the reason for the public's acceptance?

• A) Preattentive effect
• B) Skinner's Law
• C) Weber's Law
• D) Mere association effect
• E) Mere exposure effect

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Definitions:

Distribute

To share or spread something, especially resources or goods, among a group of people or over an area.

Apply

To make use of or put into effect; in accounting, it may refer to applying principles or policies.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Split-Off Method

A cost allocation method used in process costing that divides joint costs among different products at the point of separation.