A payment that is periodically adjusted in proportion to a price index such as the CPI is known as a(n)
a. unionized payment.
b. indexed payment.
c. scaled payment.
d. inflated payment.
e. adjusted payment.
B
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Under a system of rent controls, landlords are more likely to
A) discriminate against middle aged tenants. B) discriminate against students. C) discriminate against wealthy tenants. D) experience high vacancy rates. E) maintain apartments in better condition.
A country wishing to establish a currency basket peg usually
A) chooses a small number of trading partner's currencies for that basket. B) chooses all of its trading partner's to be members of the basket. C) chooses six trading partners for inclusion. D) chooses only the most stable reserve currencies for inclusion.
A firm sells 1000 units per week. It charges $15 per unit, the average variable costs are $10, and the average costs are $25 . In the long run, the firm should
a. Shut-down as the firm is making a loss of $10,000 per week b. Shut-down as price is lower than average cost c. Continue operating as the firm is covering all the variable costs and some of the fixed costs d. Shut-down because it is cost effective to pay off the remaining fixed costs
Which one of the following statement best describes a price floor?
a. A price floor causes demand to change. b. A price floor causes supply to change. c. A price floor keeps a price from rising above a certain level. d. A price floor keeps a price from falling below a certain level.