组织行为学英文课件ch04_enhanced_clicker

Oil Shortages in the 1970s
3. The actions of drivers who panicked because they were afraid they would not be able to purchase gasoline served to: A) B) reduce the shortage of gasoline. increase the shortage of gasoline.
C) prevent shortages. D) do none of the above.
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TEST YOUR UNDERSTANDING 6. A binding price ceiling is designed to: A) B) keep prices low. increase the quality of the good.
C) led to substantial surpluses. D) did not affect supply or demand for gasoline substantially.
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C) allowed to move up but not down. D) determined by supply and demand in the gasoline market.
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4. In terms of economic policy, the main difference between the oil shortage of the 1970s and the oil shortage in 2000 is that: A) B) gas prices were allowed to rise in the 1970s. gas prices were allowed to rise in 2000.
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TEST YOUR UNDERSTANDING 5. When the government imposes a price ceiling: A) B) quantity demanded will decrease. quantity supplied will increase.
C) the market suffered a shortage in 2000 but not in the 1970s. D) the market experienced a shortage in the 1970s and a surplus in 2000.
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HINT The Effects of a Price Ceiling
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DEFINITIONS
Price ceilings often lead to inefficiency in the form of inefficient allocation to consumers: people who want the good badly and are willing to pay a high price don't get it, and those who care relatively little about the good and are only willing to pay a low price do get it. Price ceilings typically lead to inefficiency in the form of wasted resources: people spend money and expend effort in order to deal with the shortages caused by the price ceiling.
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Oil Shortages in the 1970s
4. In terms of economic policy, the main difference between the oil shortage of the 1970s and the oil shortage in 2000 is that: A) B) gas prices were allowed to rise in the 1970s. gas prices were allowed to rise in 2000.
3. The actions of drivers who panicked because they were afraid they would not be able to purchase gasoline served to: A) B) reduce the shortage of gasoline. increase the shortage of gasoline.
Oil Shortages in the 1970s
2. From 1973 to 1981, gasoline prices in the United States were: A) B) subject to a price ceiling. subject to a price floor.
C) reduce the surplus of gasoline. D) increase the surplus of gasoline.
2007 Worth Publishers Economics Krugman Wells
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Oil Shortages in the 1970s
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Oil Shortages in the 1970s
1. In 1979 a revolution overthrew the government of Iran, disrupting oil production and causing the price of crude oil to increase by 300 percent. In most of the world this price increase: A) B) led to severe shortages of gasoline. did not lead to shortages.
2007 Worth Publishers Economics Krugman Wells
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SCENARIO
Oil Shortages in the 1970s
The U.S. government imposed price controls on gasoline during the first half of the 1970s to prevent U.S. oil producers from reaping large profits as a result of the disruption in oil supply due to the ArabIsraeli War. When the government of Iran was later overthrown (1979), and another disruption in oil supply ensued, the price controls were still in effect in the United States.
C) the market suffered a shortage in 2000 but not in the 1970s. D) the market experienced a shortage in the 1970s and a surplus in 2000.
2007 Worth Publishers Economics Krugman Wells
C) allowed to move up but not down. D) determined by supply and demand in the gasoline market.
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C) reduce the surplus of gasoline. D) increase the surplus of gasoline.
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Oil Shortages in the 1970s
C) a shortage will result. D) a surplus will result.
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TEST YOUR UNDERSTANDING 6. A binding price ceiling is designed to: A) B) keep prices low. increase the quality of the good.
Oil Shortages in the 1970s
1. In 1979 a revolution overthrew the government of Iran, disrupting oil production and causing the price of crude oil to increase by 300 percent. In most of the world this price increase: A) B) led to severe shortages of gasoline. did not lead to shortages.
C) led to substantial surpluses. D) did not affect supply or demand for gasoline substantially.
2007 Worth Publishers Economics Krugman Wells
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C) a shortage will result. D) a surplus will result.
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TEST YOUR UNDERSTANDING 5. When the government imposes a price ceiling: A) B) quantity demanded will decrease. quantity supplied will increase.
Oil Shortages in the 1970s
2. From 1973 to 1981, gasoline prices in the United States were: A) B) subject to a price ceiling. subject to a price floor.