The phrase "to spread the overhead" refers to reducing the costs that are not directly attributable to the production process
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose the equilibrium price of a gallon of gasoline drops from $3.00 to $2.85 and the equilibrium quantity increases from 365 millions of gallons per week to 372 millions of gallons per week. These changes can be the result of
A) an increase in supply. B) an increase in demand. C) a decrease in supply. D) a decrease in demand.
Which market adjusts the quickest in response to shocks to the economy?
A) The asset market B) The labor market C) The goods market D) The asset, labor, and goods markets adjust at about the same speed to eliminate a disequilibrium in the macroeconomy.
When investors follow a "herd instinct," they:
A. only makes decisions as a group, making it hard to determine individual behavior. B. make decisions as a group, inflating the prices of goods somewhat arbitrarily. C. invest in something simply because everyone else is doing it. D. invest in something as a group, making it appear more valuable than it is.
Agreement of members of a group on a decision is called
a. concensus b. group think c. meetings d. consideration