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n 2013, the price of gas was $3.60 per gallon, and in 2016, the price of gas was $2.05 per gallon. Since one would be spending less on gas in 2016 than in 2013, one would have more to spend on other goods and services. All else the same, this is an example of the ________ effect.

Respuesta :

david8644

Answer:

Oil price

Explanation:

THe oil price effect states that when the oil price rises, most of the products that need oil to be produced or transported also will rise, and when oil price decreases most of the same products should also lower their prices, in this case gas is the one of the most related products to oil, since it is the main product of oil, and a decrease in the cost of oil will result in a direct decrease in the price of gas.

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