Pricing is made difficult by
A) firms having multiple products.
B) concerns about the response of competitors.
C) concerns about consumer linkages of price and quality.
D) all of these choices make pricing difficult.
D
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Which of the following statements about resource allocation is correct?
a. Within a firm, resources are allocated by prices; in the market, resources are allocated by the decisions of managers. b. Resources are allocated by prices both in the market and within the firm. c. Within a firm, resources are allocated by the decisions of managers; in the market, resources are allocated by prices. d. Resources are allocated by the decisions of managers both within the firm and in the market. e. In the market, resources are allocated either by prices or by the decisions of managers.
Any point on the production possibilities curve illustrates:
a. minimum production combinations. b. maximum production combinations. c. economic growth. d. a nonfeasible production combination.
Coordination failure is a situation in which workers and employers fail to achieve an outcome that all would prefer
Indicate whether the statement is true or false
The idea that a large national debt is "mortgaging the future of our children and grandchildren" is misleading because:
A. it is the Federal Reserve that will be responsible for making interest payments on the debt. B. future generations will have to bear the opportunity costs of the resources that are used today. C. future generations will not be liable for the interest obligations of the national debt. D. future generations will inherit the interest income as well as the interest obligations.