The Effect of an Increase in the Price of Gasoline

question 14

Multiple Choice

The effect of an increase in the price of gasoline on the demand for sport utility vehicles would be shown by a:

• A) rightward shift of the demand curve for sport utility vehicles.
• B) leftward shift of the demand curve for sport utility vehicles.
• C) movement up and to the left along the demand curve for sport utility vehicles.
• D) movement down and to the right along the demand curve for sport utility vehicles.

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Definitions:

Re-entry

The act of a landlord to move into possession of leased property.

Re-enter

The act of going back into a place or area that one has previously left.

Payment of Rent

The periodic payment made by a tenant to a landlord in exchange for the use of property, as specified in a lease agreement.

Statute of Frauds

A legal principle that requires certain types of contracts to be written and signed in order to be enforceable.