If the Demand for Gasoline Becomes More Elastic Over Time

question 56

Multiple Choice

If the demand for gasoline becomes more elastic over time,

• A)the demand curve will shift out.
• B)the demand curve will become flatter.
• C)other things being equal, the equilibrium price of gasoline must fall.
• D)other things being equal, the equilibrium quantity of gasoline must fall.

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Definitions:

Job Rotation

A human resource strategy where employees are moved between different jobs or tasks to learn new skills, reduce boredom, and increase job satisfaction.

Job Depth

The degree of control, autonomy, and decision-making ability an employee has in their role.

Task Variety

Refers to the degree of different activities and skills required in a job, influencing employee motivation and satisfaction.

Job Simplification

The method of decomposing a task into its most basic elements to enhance productivity and minimize intricacy.