Which of the Following Statements Is TRUE

question 279

Multiple Choice

Which of the following statements is TRUE?

• A) An increase in the price of gasoline will decrease the demand for gasoline.
• B) An increase in the price of gasoline will increase the quantity demanded of gasoline.
• C) An increase in the price of gasoline will increase the supply of gasoline.
• D) An increase in the price of gasoline will increase the quantity supplied of gasoline.

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Definitions:

Limited Liability Partnership

A partnership where some or all partners have limited liabilities, protecting each partner's personal assets from the debts and liabilities of the business.

Malpractice

Professional misconduct or negligence—the failure to exercise due care—on the part of a professional, such as an attorney or a physician.

Professional Corporation

A professional corporation is a business entity composed of specific types of professionals, such as lawyers, doctors, or accountants, governed by special laws and typically offers its members certain legal protections.

Law Clerk

A Law Clerk is a legal professional, often a recent law school graduate, who assists a judge by conducting research and preparing legal opinions.