Total global Gross Domestic Product (GDP) when it is calculated at official, nominal exchange rates is approximately trillion dollars.
Answer: 75
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Many restaurants offer "early-bird specials" to dinner customers. These specials consist of a significant price reduction on selected menu items purchased before some pre-determined time, e.g., 6 p.m
Is such a practice a form of price discrimination? If so, what type?
An example of an external force in business fluctuations is
a. falling interest rates due to lagging demand in a contraction. b. a devaluation in the nation’s currency. c. variations in inventories. d. the lag between price changes and cost changes.
The slope of the aggregate supply curve increases as output increases because
a. the cost of resource-use increases as potential is reached. b. consumers are willing to pay more as output expands. c. firms substitute capital for labor as prices increase. d. firms substitute capital for labor as capacity is reached.
Competitive pricing has not developed in the health care industry due to the following factors, except:
A. The government bans competitive pricing in health care B. Consumers rarely shop around for health care providers C. Insurance covers most consumers' cost of health care D. Consumers are often wary of low prices in health care