Ways to "game" the budgeting process include
a. accelerating sales if just short of a target
b. accelerating expenses if just short of a target
c. accelerating sales once a target is met
d. delaying expenses costs once a target is met
a
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The price of a new portable CD player falls from $100 to $90 . The quantity of CD players demanded rises from 15,000 per year to 20,000 per year. Use the midpoint formula to calculate the price elasticity of demand for portable CD players
Is the demand elastic, inelastic, or unit elastic?
Stagflation is the combination of
a. falling output and a falling price level b. falling output and rising unemployment c. falling output and a rising price level d. falling output and falling unemployment e. rising unemployment and a falling price level
What is the major cost of slowing down an ongoing inflation?
a. Output must rise above potential. b. The Fed must sell bonds at lower prices than those at which the bonds were purchased. c. Output must fall below potential. d. The Fed must purchase bonds from the public. e. The Fed must lend additional money to member banks at below-market interest rates.
A supply restriction on imported goods, such as the government's restriction of imported oil for many years, is referred to as
A. an import quota. B. a price floor. C. an export quota. D. a price ceiling.