response 1 - Kouros Vala Econ 1B 10-24-06 Name of Article:...

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Kouros Vala Econ 1B 10-24-06 Name of Article: State gasoline tax to drop more than 2 cents a gallon. Shannon McCaffrey. Associated Press. www.mercurynews.com posted 10/23/06. Within the state of Georgia, gasoline prices dropped more than 2 cents a gallon. Beginning in December, the states gasoline will drop by 2.7 cents. The change occurs because the market price for gasoline has dropped 25% below the average retail price for gasoline in Georgia. There is an automatic recalculation of the state rate under the law adopted in 2004. State Revenue Commissioner Bart Graham said the change was driven strictly by state law. The average price for gasoline in Georgia is now $2.08 gallon, compared to $2.86 in July, according to AAA. Eventually in December, the price for a gallon of gasoline will drop by 2.7 cents, which will be approximately $2.05. As we study the price change from July to December, we see the price for a gallon of gasoline range from $2.86 to $2.05. It is unclear in the article how the quantity
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This note was uploaded on 09/08/2010 for the course ECON 1B at San Jose State University .

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response 1 - Kouros Vala Econ 1B 10-24-06 Name of Article:...

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