Because of a Sharp Increase in the Price of Gasoline,the

question 2

Multiple Choice

Because of a sharp increase in the price of gasoline,the demand for Sports Utility vehicles (SUVs) has decreased.So,the high price of gasoline leads to a

• A) leftward shift of the demand curve for SUVs and the supply curve of SUVs.
• B) leftward shift of the demand curve for SUVs and no shift in the supply curve of SUVs.
• C) leftward shift of the demand curve for SUVs and a rightward shift of the supply curve of SUVs.
• D) leftward shift of the supply curve of SUVs and no shift in the demand curve for SUVs.
• E) rightward shift of the supply curve of SUVs and no shift in the demand curve for SUVs.

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Definitions:

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, that can be tested through experimentation and observation.

Testable Explanation

A hypothesis that can be supported or refuted through experimentation and observation, forming the basis of scientific inquiry.

Time-Tested

Proven to be reliable or effective over a long period of time.

Physical Environment

The surroundings or conditions in which a person, animal, or plant lives or operates, including air, water, and land.