A demand curve shows the relationship between price and quantity demanded only so long as all other things are held constant
a. True
b. False
Indicate whether the statement is true or false
True
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The "miracle" of the market, as addressed in your text, refers to the countless goods and services of great complexity made abundantly available
A) under conditions of massive ignorance. B) with a minimum number of errors and mistakes. C) with few losses and bankruptcies. D) with no systematic or scientific way of explaining how it happens.
The major problem with running a functionally organized firm is
a. Measuring divisions' performance b. Tying pay to performance c. Ensuring that the functional divisions are working towards a common goal d. All of the above
Which of the following indexes is best suited to measure wage inflation?
a. The Producer Price Index b. The International Price Index c. The Employment Cost Index d. The Personal Consumption Expenditure Index
If there is an improvement in the technology used to produce a good, then the supply curve for that good will shift to the left
a. True b. False Indicate whether the statement is true or false