In 1973 and 1974, the Organization of the Petroleum Exporting Countries (OPEC) imposed an embargo on shipments of crude oil to the United States. What followed was a drastic reduction in the quantity of gasoline available at local gas pumps. Congress imposed a price ceiling, or maximum price, of $0.57 per gallon of leaded regular gasoline. That price ceiling was intended to keep gasoline "affordable." 1.) Using the line drawing tool, depict the effect of the crude oil embargo such that the free-market price would rise to $1.50 per gallon. (Draw any shift in a line parallel to the original line.) Properly label this line. 2.) Using the point drawing tool, illustrate the quantity supplied at the price ceiling of $0.57 per gallon.

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant.a. the division's basic earning power ratio is above the average of other firms in its industry.b. the division's total assets turnover ratio is below the average for other firms in its industry.c. the division's debt ratio is above the average for other firms in the industry.d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.