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In September 2012, the average price of gasoline in the United States was $3.91 per gallon and consumers bought 5 percent less gasoline than they had during September 2011, when the average price was $3.66 per gallon. Based on these numbers, what was the price elasticity of demand for gasoline from September 2011 to September 2012?
Usury Statute
Laws that set maximum interest rates that can be charged on loans to prevent predatory lending practices.
Maximum Rate
The highest permissible interest rate or charge on a loan as defined by law or regulation.
Illegal Bet
A wager placed in violation of laws or regulations governing gambling activities.
Withdraw
To remove or take back something previously offered or put forward, or to exit a process or situation.
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