As a result of Lehman’s collapse, real GDP first began to fall in
A. the fourth quarter of 2007.
B. the second quarter of 2008.
C. the third quarter of 2008.
D. the first quarter of 2009.
Answer: C
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Over a short-run period (i.e., week or month), ________ dominate exchange rate movements
A) short-run inflation differentials B) nominal price changes C) relative price changes D) None of the above
In order to be a successful price discriminator, a provider must have a degree of market power (depicted by a downward-sloping demand curve) and meet what other condition(s)?
a. Prospective customers must be categorized according to willingness-to-pay. b. Opportunities for resale of the good or service must be limited. c. Customers cannot know that multiple prices are being charged. d. The provider must have excess capacity to accommodate the extra business. e. Both a and b.
Which of the following would cause a firm's cost curve to shift downward?
a. a decrease in resource prices b. an increase in taxes c. an increase in demand for the firm's product d. a reduction in output
Why do used goods of different qualities often sell for the same price, while used goods of different sizes sell for different prices?
What will be an ideal response?