Someone who studies the pricing policies of the Microsoft Corporation would be a microeconomist
a. True
b. False
Indicate whether the statement is true or false
True
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According to the classical model
A) long-term unemployment is unavoidable. B) unemployment is a temporary phenomenon. C) unemployment only exists during periods of war. D) the natural rate of unemployment is zero.
Each of the following, except one, is a condition necessary for a private market solution to an externality problem. Which is the exception?
a. Legal rights must be clearly established. b. Legal rights must be easily transferred. c. The number of people involved must be very small. d. The amount of money involved must be very small. e. Side payments must be arranged without cost.
A price ceiling is
a. often imposed on markets in which "cutthroat competition" would prevail without a price ceiling. b. a legal maximum on the price at which a good can be sold. c. often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price ceiling. d. All of the above are correct.
If the reserve ratio is 25 percent, the money multiplier is
What will be an ideal response?