Economists Blame the Long Lines at Gasoline Stations in the U.S.in

question 41

Multiple Choice

Economists blame the long lines at gasoline stations in the U.S.in the 1970s on

• A)U.S.government regulations pertaining to the price of gasoline.
• B)the Organization of Petroleum Exporting Countries (OPEC).
• C)major oil companies operating in the U.S.
• D)consumers who bought gasoline frequently,even when their cars' gasoline tanks were nearly full.

---

Definitions:

Liabilities

Financial obligations or debts owed by a company to others, which must be settled over time by transferring economic benefits.

Expenses

The costs incurred in the process of generating revenue, such as rent, utilities, and salaries.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise. It serves as the starting point for determining net income.

Total Liabilities

The cumulative amount of all debts and financial obligations a company owes to outside parties.