Which of the following would cause a shift of the demand curve to the right?
a. The price of a complement increases.
b. The number of buyers in a market decreases.
c. Tastes change against a good.
d. Future price increase is expected.
d. Future price increase is expected.
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Quality Motors is a Japanese-owned company that produces automobiles; all of its automobiles are produced in American plants. In 2008, Quality Motors produced $25 million worth of automobiles and sold $12 million in the U.S. and $13 million in Mexico. In addition, it sold $2 million from the previous year's inventory in the U.S. The transactions just described contribute how much to U.S. GDP for 2008?
a. $12 million b. $14 million c. $25 million d. $27 million
In practice, placing a price control on a natural monopoly:
A. is easy and commonly practiced. B. is difficult because of lack of information. C. always creates the same outcome as public ownership of the industry. D. is never a good idea.