To evaluate the potential impact of introducing the hybrid Prius auto into the U.S. market, Toyota Motor Corporation would use:
What will be an ideal response?
positive economic analysis.
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In the economic way of thinking, "scarcity" is another way of saying
A) "regret." B) "responsibility." C) "unsustainable." D) "sacrifice." E) "waste."
Which of the following is true at the equilibrium level of income?
a. Unplanned inventory changes are positive. b. Firms are unable to produce the desired rate of output. c. Autonomous consumption spending is equal to induced consumption spending. d. Aggregate expenditures equal real GDP. e. Unplanned investment spending is positive.
Which of the following is NOT a function of money?
A. store of value B. medium of exchange C. standard of deferred payment D. form of credit
Refer to the payoff matrix. Suppose that Speedy Bike and Power Bike are the only two bicycle manufacturing firms serving the market. Both can choose large or small advertising budgets. If this is a one-time, simultaneous game, which cell represents the final outcome we would expect to occur?
A. A.
B. B.
C. C.
D. D.