A change in output by one firm in an industry affects the sales of its competitors. This exemplifies ______.
a. tie-in sales
b. social welfare
c. perfect competition
d. mutual interdependence
d. mutual interdependence
You might also like to view...
Which of the following is true? a. Actual reserves equal required reserves minus excess reserves
b. The predominant liability of virtually all banks is loans. c. The lower the required reserve ratio, the larger the money multiplier. d. If some banks choose not to lend all of their excess reserves, the total amount of money created by an initial cash deposit will be larger.
Which of the following is the largest single source of federal government revenue?
a. payroll tax b. excise taxes c. personal income tax d. corporate income tax
To eliminate an inflationary gap, the aggregate demand curve should
a. shift outward. b. become vertical. c. become horizontal. d. shift inward.
If the producers bear a larger portion of tax incidence than the buyers, which of the following must be true?
A. Their supply curve must be more elastic than the buyers demand curve. B. Their supply curve must be more inelastic than the buyers demand curve. C. They are not as business savvy as the buyers. D. They face a very inelastic demand.