Multiple Choice
In the 1990s,Canadians bought larger vehicles,such as minivans and SUVs,which used more gasoline than smaller cars.We can conclude that consumers were responding to the fact that the
A) nominal price of gasoline had risen.
B) nominal price of gasoline had fallen.
C) nominal price of gasoline was unchanged.
D) average price of gasoline had risen.
E) nominal price of gasoline had risen much less rapidly than the average rate of increase for other goods.
Correct Answer:
Verified
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