Which of the following is NOT a reason why the United States is able to produce such high levels of GDP?
A.) Abundant factors of production.
B.) Labor-intensive production process.
C.) High levels of investment in human capital.
D.) High quality of capital.
B.) Labor-intensive production process.
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The idea behind price discrimination is
a. To be able to sell to high-value customers, who value the product most b. To be able to sell to the marginal customers, who are indifferent about the purchase c. To be able to sell to the low-value customers, who would otherwise not buy the product d. To be able to sell to both high and low value customers at different prices
The face value of a ticket to the Super Bowl was approximately $1,200 in 2011 . The game is very popular and there are a number of fans who are not able to get tickets to this game. At the same time, many fans claim that prices are too high and that the
NFL should lower the face value of the ticket prices. Would a decrease in ticket prices move the market towards equilibrium? Would it eliminate the shortage of tickets? Why or why not?
Many economists challenged the idea of passive government involvement in the economy following the inflation of the 1970s and early 1980s, and the recessions of 1974-1975 and 1980-1982.
Answer the following statement true (T) or false (F)
Porter states that ______ can influence each of the four components of the diamond through subsidies, education policies and policies towards capital markets.
Fill in the blank(s) with the appropriate word(s).