Sherry wants to rent an apartment. Although rents are below what she is willing to pay, she cannot find an apartment. Then after a month of searching, she finds an apartment but she has to pay an additional $1,000 to have the locks changed
Sherry has just experienced the effects of ________. A) a rent floor with a black market
B) inelastic demand
C) a market working efficiently
D) a rent ceiling
D
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Prices under an ideal cartel situation will be equal to
A) monopoly prices. B) competitive prices. C) prices under monopolistic competition. D) marginal cost.
A deficit nation in a fixed exchange rate system can improve its balance of payments by increasing
A. its money supply. B. its interest rates. C. its level of real GDP. D. aggregate demand.
A U.S. company begins selling its products in France. Despite brisk sales, the company doesn't make enough profit to cover its expenses. When setting prices, the company simply used the same prices in both countries. For example, $5.99 = 5.99 French francs; $2.89 = 2.89 French francs. What risk of international business did the company not consider?
A. Language variations B. Currency fluctuations C. Differences in laws D. Opportunity costs
The "life cycle" and "permanent income" theories of consumption share which of the following features?
A) Consumption spending depends on income, rather than wealth. B) Consumption spending should fluctuate widely from year to year. C) Consumers look ahead to the future in making current spending decisions. D) all of the above E) none of the above