which of the following is the incorrect statement
a. during a period of inflation, prices are always rising
b. when inflation is decreasing, prices are always falling
c. if the inflation is constant, prices are neither rising or falling
d. a and b are incorrect
e. b and c are incorrect
a. during a period of inflation, prices are always rising
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Halibut tends to be much more expensive than cod. According to the economic way of thinking, relatively high halibut prices can be explained by
A) using the theory of supply and demand. B) pointing out the cause—Halibut boats are often more expensive than boats used to fish for cod. C) acknowledging the price differential is unfair to consumers of halibut. D) acknowledging the price differential is unfair to cod fishermen.
Net foreign investment is a measure of net capital outflows, equal to capital outflows minus capital inflows in a given period of accounting
Indicate whether the statement is true or false
A cartel price will be established at the quantity where
A) total cost equals the industry total revenue. B) average cost equals the industry revenue. C) the sum of the members' marginal costs equals industry marginal revenue. D) marginal cost equals industry price.
Discrimination based upon the quantity consumed is referred to as ________ price discrimination
A) first-degree B) second-degree C) third-degree D) group