The Change in the Quantity Demanded of Gas Because of Increasing

question 133

Multiple Choice

The change in the quantity demanded of gas because of increasing gas prices over the last decade:

• A) was more elastic than it has been in the last six months.
• B) was less elastic than it has been in the last six months.
• C) has been relatively the same over both time periods.
• D) has become a non-issue for people now that they are used to higher gas prices.

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Definitions:

Semantic Differential

A scale used to measure attitudes that consists of pairs of adjectives opposite in meaning.

Ratio-Level Measurement

A quantitative measurement that includes a true zero point, allowing for meaningful comparisons of magnitude and calculations of ratios.

Zero

A numerical value representing the absence of any quantity or magnitude.

Expert Validity

Validity as judged by relevant experts.