As High Gasoline Prices Persisted into the First Part of 2011,consumers

question 42

Multiple Choice

As high gasoline prices persisted into the first part of 2011,consumers began driving less and using public transportation more.Over time,this caused the demand curve for gasoline to become ________ and the quantity of gasoline demanded to ________.

• A) more elastic, rise
• B) more elastic; fall
• C) less elastic; rise
• D) less elastic; fall

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Definitions:

Covariance

An indicator showing the degree to which two variables fluctuate in unison.

Standard Error Of Estimate

A measure of the accuracy with which a sample distribution represents a population, particularly in regression analysis; it represents the average distance that the observed values deviate from the regression line.

Coefficient Of Correlation

A computation that assesses the power and orientation of a straight-line relation between two variables.

Causal Relationship

A connection between two variables where a change in one variable (the cause) leads to a change in another variable (the effect).