All countries tend to have about the same tariff levels
Indicate whether the statement is true or false
FALSE
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Macro AD-AS Model
?In Exhibit 10A-4, the level of real GDP represented by Yp:
A. ?would be associated with considerable unemployment. B. ?indicates that the economy is experiencing zero inflation. C. ?indicates that the economy is experiencing a recessionary gap. D. ? is potential real GDP for this economy.
You own a local sub shop in a college town. You primarily serve two groups of people: local residents (both students and other local residents) and visitors to your town. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy.
What will be an ideal response?
The productivity standard says
A. that everyone should have exactly the same income. B. that the age-earnings cycle should determine income. C. that people should be compensated on the basis of their need. D. that people should be compensated on the basis of what they produce.
If a firm is producing an output rate at which marginal cost is greater than price, the firm
A. should reduce its output level. B. is sustaining economic loss. C. will not be covering its fixed cost. D. should increase its output level.