In ____, each competing firm is determined to sell at a price that is lower than the prices of its rivals, often regardless of whether that price covers the pertinent cost.
A. market skimming
B. a monopoly
C. a price war
D. perfect competition
Answer: C
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A nation's population was 250 million last year and is 255 million this year. If its real GDP was $8.5 trillion last year and is $8.8 trillion this year, what is its growth rate of real GDP per person?
What will be an ideal response?
The peak in U.S. government spending as a percent of GDP occurred during
A) World War II. B) the 1960s war on poverty. C) the Great Depression. D) the war against Iraq in the 2000s.
GDP can be measured as each of the following except:
A. incomes of capital and labor. B. total expenditure on final goods and services. C. the market value of production. D. total business revenues.
For foreign direct investment to occur, the purchase has to be more than
A. 5 percent but less than 10 percent of shares in a business located abroad. B. 10 percent of shares in a business located abroad. C. 8 percent but less than 10 percent of shares in a business located abroad. D. 2 percent but less than 5 percent of shares in a business located abroad.