Product differentiation
A) is possibly welfare enhancing if new products match consumer preferences better.
B) is welfare reducing even if new products match consumer preferences better.
C) is welfare enhancing even if new products do not match consumer preferences better.
D) is welfare reducing even if new products do not match consumer preferences better.
A
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The degree to which an asset can be acquired or disposed of without much loss of nominal value or transaction costs is known as
A) fiducia. B) credit. C) fiat money. D) liquidity.
Money is assumed to earn
A) no interest at all, being just currency in hand. B) in checkable deposit form a rate below "the interest rate." C) in checkable deposit form a rate equal to "the interest rate." D) in checkable deposit form a rate above "the interest rate."
According to the graph shown, what does Y on the x-axis stand for?
A. Current level of GDP B. Observed level of output C. Full employment level of output D. Future target goal for output
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point B. The opportunity cost of moving from Point B to Point A is the
A. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs. B. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs. C. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs. D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.