Question

Suppose it is announced that industry analysts are predicting that decreased oil supplies from one of the exporter countries will cause gasoline prices to rise, beginning next month. In the current week, the announcement would: Shift the supply of gasoline right Shift the demand for gasoline right Shift the demand for gasoline left no effect on the demand or supply of gasoline

Answer 1

Answer: Shift the demand for gasoline right

Step-by-step explanation:

If it is announced that there'll be an increase in the prices of gasoline starting from the following month, this will bring about a situation whereby people will start rushing to buy gasoline before the following month when there will be an increase in its price.

In such case, there'll be a shift in the demand for gasoline to the right as there'll be an increase in the demand for gasoline.