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Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the price and quantity of minivans.
a. People decide to have more children.
b. A strike by steelworkers raises steel prices.
c. Engineers develop new automated machinery for the production of minivans.
d. The price of sport utility vehicles rises.
e. A stock market crash lowers people’s wealth.
What global social interests or responsibilities, if any, do we have as consumers to the losers of globalization? Discuss and justify your postings and responses with other students in our course.
In a certain kingdom, the demand function for rye bread was q = 381 − 3p and the supply function was q = 5 + 7p, where p is the price in zlotys and q is loaves of bread. The king made it illegal to sell rye bread for a price above 32 zlotys per loaf...
If the basket of goods used to calculate the CPI is changed to reflect substitution to lower priced goods by consumers, it would result in:
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The Fall of Rome has been attributed to all of the following except
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Racial also Ethnic Groups defines culture of poverty as a way of life which involves no future planning, no enduring commitment to marriage
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