(Figure: The Market for Hybrid Cars) Look at the figure The Market for Hybrid Cars. If there were a binding price ceiling in the market for hybrid cars, one possible price would be equal to ________, consumers would demand ________, and producers would supply ________.
A) P1; Q3; Q1
B) P1; Q1; Q3
C) P3; Q3; Q1
D) P2; Q2; Q2
C) P3; Q3; Q1
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The ability to share work and share risk is an advantage for
A) partnerships. B) sole proprietorships and partnerships. C) sole proprietorships. D) sole proprietorships and corporations
Suppose a monopolist is producing a level of output such that MR > MC. Which of the following best describes what will happen as the firm moves to its profit-maximizing equilibrium?
A) Marginal revenue will rise and marginal cost will fall. B) Marginal cost and marginal revenue will both rise. C) Marginal revenue will fall and marginal cost will rise. D) Marginal cost and marginal revenue will both fall.
Which of the following questions would a macroeconomist most likely try to answer?
A. What stage of the business cycle is our economy currently in? B. Why do Broadway musicals and airlines have different price discrimination strategies? C. How much would marijuana consumption change if the market became legal? D. Should the 5-Hour Energy firm increase its distribution from national to international?
Table 5.3National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$8,200Exports$1,700Government purchases of goods and services$2,500Social Security taxes$1,900Net investment$1,400Indirect business taxes$1,400Imports$1,900Gross investment$1,800Corporate income taxes$600Personal income taxes$1,500Corporate retained earnings$130Net foreign factor income$100Government transfer payments to households$1600Net interest payments to households$500On the basis of Table 5.3, the value of the income aggregate that is defined as "the part of disposable income not spent on current consumption" (also known as savings) is
A. $370 billion. B. $500 billion. C. $8,570 billion. D. -$500 billion.