Economics for Today 9th Edition by Irvin Tucker

Exercise 52

An economic theory claims that a rise in gasoline prices will cause gasoline purchases to fall, ceteris paribus. The phrase "ceteris paribus" means that
A) other relevant factors like consumer incomes must be held constant.
B) gasoline prices must first be adjusted for inflation.
C) the theory is widely accepted, but cannot be accurately tested.
D) consumers need for gasoline remains the same regardless of price.