Some finance experts advise consumers not to worry about rising gasoline prices, the cost of which can easily be covered

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Some finance experts advise consumers not to worry about rising gasoline prices, the cost of which can easily be covered by forgoing one takeout meal a month, but to worry about how high energy prices will affect the rest of the economy. For example, each dollar-a-barrel price increase is equivalent to a $20 million-a-day "tax" on the economy. Explain what this means.

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Related Book For  answer-question

Contemporary Marketing

ISBN: 978-0324582031

14th Edition

Authors: Louis E Boone, David L Kurtz

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Question Posted: September 14, 2012 06:38:33