For which of the following goods and services are prices most sticky?
A. Taxi fares.
B. Beer.
C. Coin-operated laundry machines.
D. Airline tickets.
Answer: C
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Swaps differ from futures and options in all of the following ways EXCEPT:
A) intended to reduce the risk faced by participants. B) more flexibility. C) more privacy. D) less regulation.
In the short run, a perfectly competitive firm earning negative economic profit
A) is on the downward-sloping portion of its AVC. B) is at the minimum of its AVC. C) is on the upward-sloping portion of its AVC. D) is not operating on its AVC. E) can be at any point on its AVC.
Advertising can contribute to product differentiation.
Answer the following statement true (T) or false (F)
Figure 3-3
?
In Figure 3-3, a shift from A to B seems most consistent with which of the following scenarios?
A. Society has decided to give guns lower priority. B. Technological advances have been greater for guns than for butter. C. The society has experienced a massive immigration of labor. D. There are unemployed resources in the production of both guns and butter.