Market ____ reveal information about the relative availability of products to buyers.
a. quality
b. stimuli
c. norms
d. prices
d. prices
You might also like to view...
If the firm in Figure 17-4 above maintains its set price of P0, rather than dropping price to P1, this reduces its profit by
A) K - G. B) K + G. C) G - K. D) G + H. E) G.
Which of the following is true with regard to minimum wages? a. A minimum wage does little to alleviate poverty
b. A minimum wage helps deal with the problem of poverty. c. A minimum wage leads to a surplus or unemployment in the skilled labor market. d. A minimum wage adversely affects the unskilled laborers between the age group 40 and 45. e. A minimum wage helps provide employment to teenagers and improve their standard of living.
One reason for the differences between the Federal Reserve System and its European counterparts is
a. that the Fed was established earlier b. the tendency for Americans to embrace the idea of a central authority c. the fear that a powerful central bank might be dominated by one group's interests to another group's detriment d. the homogeneity of the United States compared with other nations e. because our definition of money is much different from other countries
Why does consumer surplus decrease when price increases?
A. Consumers buy less of the good at a higher price. B. Producers cannot sell as much to the consumer. C. Consumers buy less of the good at a lower price. D. Consumers buy more of the good at a higher price.