During the 1992 presidential campaign,Ross Perot recommended a 50-cents-per-gallon increase in the tax on gasolinE.Such an increase would have little or no effect on the quantity of gas sold since we have few options to driving

Question

Quizplus · Accepted Answer

This statement is not entirely true. While it is true that we have limited options for driving, a 50-cents-per-gallon increase in gasoline tax would likely result in a decrease in demand for gasoline. People may seek alternative modes of transportation, such as carpooling, public transportation, or even switching to more fuel-efficient vehicles. However, the extent of the decrease in demand would depend on the price elasticity of demand for gasoline.

During the 1992 Presidential Campaign,Ross Perot Recommended a 50-Cents-Per-Gallon Increase