Some Environmental Groups Are on Record Suggesting That the Price

question 101

Multiple Choice

Some environmental groups are on record suggesting that the price of gasoline should be much higher than it was in the early 1990s.Why might they say this?

• A) They own stock in oil companies.
• B) They anticipate that the longer the price is high, the more elastic the response by consumers will be.
• C) They anticipate that the longer the price is high, the less elastic the response by consumers will be.
• D) They anticipate that higher prices will reduce the price elasticity of supply of oil.

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Definitions:

Feel-good, Do-good Phenomenon

A psychological concept suggesting that individuals who feel happy or content are more likely to perform acts of kindness or altruism.

Emotion-focused

A therapeutic approach designed to help individuals manage and cope with their emotional responses rather than trying to change the underlying situation.

Problem-focused

A coping strategy targeting the causes of stress in practical ways, aiming to reduce or eliminate the source of the problem.

Coping

The use of cognitive and behavioral strategies to manage stress and emotional distress.