In exchange for a share of the revenues earned on campus, State U has granted CheapFizz the exclusive right to sell soft drinks in the student union and in vending machines on campus. Prior to the deal, three soft drink companies sold beverages on campus; now no other soft drink company is allowed to sell its products on campus. The beneficiaries of this deal is/are ________.
A. CheapFizz
B. State U
C. State U and CheapFizz
D. the students at State U
Answer: C
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The statement "Gross domestic product (GDP) values all output equally" means that:
a. household production is treated the same as production by firms b. depreciation of manufactured capital is treated the same as depletion of natural resources. c. the purchase of pollution control equipment is valued the same as pollution itself. d. leisure time is valued the same as time spent working a job. e. the market price of output is the measure of that output's value.
Shortages normally accompany an effective price floor
a. True b. False Indicate whether the statement is true or false
What do most economists think is the most accurate statement about velocity?
A. Velocity is fairly constant in the short run but varies considerably in the long run, complicating predictions about nominal GDP. B. M1 velocity is more stable in the short run than M2 velocity, and it has been a superior tool in predicting changes in nominal GDP. C. Velocity is not constant in the short run, and predictions about nominal GDP have not fared well. D. M2 velocity has been less stable than M1 velocity, but both are reliable enough to make accurate predictions about changes in nominal GDP.
To calculate the slope of a line, find the vertical distance between two points and divide it by the horizontal distance between the same two points.
Answer the following statement true (T) or false (F)