An expenditure maximizing multi-product firm will set the same relative prices as a welfare maximizing firm
Indicate whether the statement is true or false
F The expenditure maximizing firm will make full use of demand elasticity differences across its services, whereas the welfare maximizing firm will effectively increase all elasticities so they have less effect on price markups.
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In 2008, Japan's government approved a $1 trillion fiscal stimulus plan comprised of both tax cuts and government expenditure increases. As a result
A) Japan's aggregate demand curve shifted rightward. B) Japan's aggregate supply curve shifted leftward. C) Japan's aggregate demand curve shifted leftward. D) Japan's long-run aggregate supply curve shifted leftward.
According to the text, much of the increase in productivity that has occurred more recently in the fast food industry was the result of improvements in capital and technology
Indicate whether the statement is true or false
Considering both product markets and resource markets, most economic decision makers participate in the economy as both buyers and sellers
a. True b. False
According to the World Bank, developing countries greatly outnumber industrial countries
a. True b. False Indicate whether the statement is true or false