If consumers suddenly decide they no longer want to purchase hybrid vehicles, the price of hybrid vehicles will likely ________ and producers will ________ production
A) increase; decrease
B) increase; increase
C) decrease; decrease
D) decrease; increase
C
You might also like to view...
Macroeconomic models particularly focus on the following three economic data series
A) real GDP, the unemployment rate, and inflation B) endogenous variables, exogenous variables, and GDP per person C) inflation, recessions, and business cycles D) real GDP, the employment rate, and interest rates E) real GDP, the unemployment rate, and depressions
The largest securities exchange in the United States is the
a. American Stock Exchange b. Chicago Board of Trade c. Securities and Exchange Commission d. New York Stock Exchange e. Federal Trade Commission
In the long-run, a monopolist charges the same price as a perfectly competitive firm.
Answer the following statement true (T) or false (F)
A country is likely to have a comparative advantage in a land-intensive activity if it has a:
A. large amount of capital equipment relative to its population. B. large population relative to its landmass. C. lot of land relative to its population. D. higher opportunity cost of producing technology.