From an economic point of view, _____ makes a lot of sense because it takes advantage of the gains produced by specialization.
a. bicameral legislatures
b. representative democracy
c. proportionality in the House of Representatives
d. bureaucracy
Question 2
Tastes are starting to change for hybrid vehicles such that consumers are purchasing more hybrid vehicles and suppliers are choosing to produce more hybrid vehicles than they were five years ago.
Due to the change in tastes, equilibrium price has fallen and equilibrium quantity has increased relative to the hybrid market from five years ago. What is the likely cause of this result? A) Supply increased by more than demand.
B) Demand increased by more than supply.
C) Demand and supply increased by the same amount.
D) Only supply increased.
