In the Week Before Hurricane Katrina, the Price of Flashlights

question 85

Multiple Choice

In the week before Hurricane Katrina, the price of flashlights rose in New Orleans because of:

• A) an increase in supply.
• B) an increase in demand.
• C) a decrease in supply.
• D) a decrease in demand.

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Definitions:

Independent Auditors

External experts who examine the financial records and statements of an organization to ensure accuracy and compliance with applicable standards.

Securities & Exchange Commission

A U.S. federal agency responsible for enforcing federal securities laws, regulating the securities industry, and overseeing the stock and options exchanges.

Inventories

Items held for sale in the ordinary course of business, or goods to be used in the production of goods to be sold, including raw materials, work-in-progress, and finished goods.