Which of the Following Shifts the Supply Curve for Gasoline

question 167

Multiple Choice

Which of the following shifts the supply curve for gasoline rightward?

• A) a situation in which the quantity demanded exceeds the quantity supplied
• B) an increase in the price of gasoline
• C) a decrease in the price of a resource used to produce gasoline, such as crude oil
• D) an increase in the demand for gas-guzzling, sport utility vehicles

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Definitions:

Passive Approach

A strategy of minimal interference or intervention, often referring to investment strategies or management styles.

Aggregate Supply

Total supply of goods and services that firms in a national economy plan on selling during a specific time period.

Active Approach

A strategy where decisions are made through direct involvement and proactive measures, often in context to investment and management.

Potential Output

The highest level of economic output an economy can sustain over the long term without increasing inflation, determined by available resources and technology.