When firms use cost-plus pricing in a market,
a. each firm determines its price based on other firms' costs and prices.
b. it may appear as though firms are colluding in price when they actually are not.
c. prices of different firms diverge widely.
d. each firm falls short of maximizing profit as they charge the same price irrespective of their costs.
e. each firm sells only to its most-favored customer.
b
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Suppose that inventories were $80 billion in 2012 and $70 billion in 2013. In 2013, national income accountants would ________.
A. subtract $75 billion (= $150/2) from other elements of investment in calculating total investment B. add $10 billion to other elements of investment in calculating total investment C. add $75 billion (= $150/2) to other elements of investment in calculating total investment D. subtract $10 billion from other elements of investment in calculating total investment
A justification for general grants is _____
a. the equalization of revenues between government units with different income levels b. higher level governments might have a greater ability to raise revenue c. progressive taxation cannot be done on the local level d. a and b
Jasime voluntarily quit her job and is now searching for a new position. Jasime is classified as a
A) job loser. B) job reentrant. C) job leaver. D) new entrant.
When economists attempt to predict the spending patterns of U.S. households, they will typically view the _________ as a primary determining factor that influences the individual consumption choices that each will make.
A. national average spending level B. national average savings level C. income level of each household D. nation's perennial political debate