What Will Happen to the Equilibrium Price and Quantity of New

question 157

Multiple Choice

What will happen to the equilibrium price and quantity of new cars if the price of gasoline falls, the price of steel falls, public transportation becomes more expensive and less comfortable, and the wages of auto workers decrease?

• A)price will fall and the effect on quantity is ambiguous
• B)price will rise and the effect on quantity is ambiguous
• C)quantity will fall and the effect on price is ambiguous
• D)quantity will rise and the effect on price is ambiguous

Comprehend ethical issues related to fairness and the common good within societal and organizational contexts.

Analyze the effects of ethics on public policy, such as healthcare reform.

Apply ethical frameworks to real-world scenarios involving technology and data use.

Understand the financial implications of outsourcing components versus in-house production.

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Definitions:

Military-Industrial Complex

The military-industrial complex refers to the close relationship and mutual interests among military leaders, government, and defense contractors, often criticized for promoting military expenditure and involvement in conflicts for profit.

Farewell Address

A statement or speech given by an important figure when leaving office, most famously associated with President George Washington's address in 1796, advising the United States on principles for future security and peace.

Environmental Pollution

The contamination of the natural environment by human activities, leading to harmful effects on living organisms and ecosystems.

GI Bill

A law passed in 1944 that provided a range of benefits for returning World War II veterans, including educational grants, home loan guarantees, and unemployment compensation.