1.Price of gasoline and car sale in the US.

Data Source: (a) Statista (Transportation & Logistics): Retail Price of gasoline in the United States 1990-2020. (b) U.S. car sales 1951-2020.

Standard Guideline:

You should organize your assignment as follows:

1. Introduction

2. Theoretical Background

3. Data and Variables

(Include what are the variables you have applied in this research. Write in this section - where have you collected data for each variable, i.e., data source? How many years of data you are using data for analysis? etc.)

4. Data Analysis

(Draw and explain figures. Do you see any theory that matches your research outcome? If yes, what theory? Does it support the Law of Demand? Or it does violate the Law of Demand. If it does, why? Give your opinion.)

5. Conclusion.