Economists blame the long lines at gasoline stations in the United States during the 1970s as well as the long delays in construction projects on:
A) consumers who bought gas too frequently.
B) the Organization of Petroleum Exporting Countries (OPEC).
C) major oil companies operating in the U.S.
D) U.S. government regulation of gasoline prices.

Question

Quizplus · Accepted Answer

The long lines at gasoline stations and delays in construction projects during the 1970s were caused by the U.S. government's regulation of gasoline prices. The government had set prices too low, leading to an increase in demand but a decrease in supply, which resulted in shortages and long lines at gas stations. In addition, the low prices discouraged investment in new oil production and infrastructure, leading to delays in construction projects.

Economists Blame the Long Lines at Gasoline Stations in the United