In September 2005, Destruction to U

question 238

Multiple Choice

In September 2005, destruction to U.S. gasoline refineries was caused by back-to-back storms along the U.S. Gulf Coast-Hurricane Katrina and Hurricane Rita. In one week, the average price of a gallon of gasoline in the United States increased by about 40 cents. Which of the following best explains why these events pushed up the price of gasoline?

• A) The demand curve for gasoline shifted to the left along the supply curve for gasoline.
• B) The supply curve for gasoline shifted to the left along the demand curve for gasoline.
• C) The demand curve for gasoline shifted to the right along the supply curve for gasoline.
• D) The supply curve for gasoline shifted to the right along the demand curve for gasoline.

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Definitions:

Choleric

Relating to one of the four temperaments characterized by quickness to anger and bad temper.

Sanguine

describes a personality type that is cheerful, optimistic, active, and social, based on the ancient theory of humors associated with blood.

Melancholic

Pertaining to a state of deep sadness or depression, often characterized by persistent feelings of despair and low self-esteem.

Psychosexual Stages

A Freudian theory that proposes five stages (oral, anal, phallic, latency, genital) of psychological and sexual development from infancy to adulthood, with each stage associated with a different erogenous zone.