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

question 184

Multiple Choice

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

• A)supply of gasoline to decrease.
• B)quantity of gasoline demanded to decrease.
• C)equilibrium price of gasoline to increase.
• D)All of the above are correct.

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Definitions:

Return on Assets

A financial ratio indicating how efficiently a company is using its assets to generate earnings.

Return on Assets

A financial ratio indicating how profitable a company is relative to its total assets, measuring the efficiency of asset use in generating profit.

Net Income

The profit of a company after all expenses and taxes have been deducted from total revenue.

EBIT

Earnings Before Interest and Taxes, a firm's earnings metric, accounts for all operational expenses aside from interest and taxes.