One Reason the U

question 119

Multiple Choice

One reason the U.S.government might subsidize research of an alternative to crude-oil based gasoline is that

• A) more substitutes will reduce the price of crude-oil based gasoline.
• B) more substitutes will increase the elasticity of crude-oil based gasoline.
• C) more substitutes will reduce the impact of supply shocks on the price of crude-oil based gasoline.
• D) Any or all of the above.

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Definitions:

Accommodation

In cognitive development, this refers to the process by which individuals adjust their schemas (mental models) to incorporate new experiences.

Preexisting Idea

A concept or belief that exists before a particular event, study, or project.

New Information

Data or knowledge received that was previously unknown to the recipient.

Sensorimotor Period

A stage in Piaget's theory of cognitive development, occurring from birth to approximately age 2, where infants learn about the world through their senses and actions.