When OPEC Raised the Price of Crude Oil in the 1970s

question 163

Multiple Choice

When OPEC raised the price of crude oil in the 1970s, it caused the United States'

• A)nonbinding price floor on gasoline to become binding.
• B)binding price floor on gasoline to become nonbinding.
• C)nonbinding price ceiling on gasoline to become binding.
• D)binding price ceiling on gasoline to become nonbinding.

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