Which of the following events occurred during the 1973-1974 oil crisis in the United States? I. Gas stations were ordered to be closed between 9 PM on Saturday and 12:01 AM on Monday. II. The government decided to allocate oil by command. III. The 55 mph speed limit was repealed. IV. Daylight savings time was implemented.
A) I and IV only
B) I, II, and III only
C) I, II, and IV only
D) I, III, and IV only
Correct Answer:
Verified
Q72: Q74: Ultimately repealing the price controls on gasoline Q75: Economists blame the long lines at gasoline Q76: (Figure: Price Ceilings and Lost Consumer Surplus)
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