The Price of a Gallon of Gasoline at the Pump

question 56

Multiple Choice

The price of a gallon of gasoline at the pump increased by 10 percent at the same time that the inflation rate was 15 percent. The nominal price of gasoline ________, and the real price of gasoline ________.

• A)increased; also increased
• B)increased; decreased
• C)increased; did not change
• D)decreased; increased

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Definitions:

Modern Physicists

Scientists who specialize in the study of physics, focusing on developing and understanding concepts of nature in the modern era.

Epicycles

In ancient astronomy, concentric spheres used to explain the irregular movements of planets in a geocentric model.

Mass

A property of physical objects that measures the amount of matter within them, often influencing how they interact with forces and each other.

Quantity of Matter

This term typically refers to the mass of an object or substance, indicating the amount of material present.