If Mario's Pizza, Angelo's Pizza, and Bella's Pizza are all competing in the pizza delivery market and Bella's Pizza consistently is the first to change prices, Bella's Pizza might be ________.
A) signaling to the other firms to consistently lower their prices
B) signaling to the other firms to consistently raise their prices
C) offering to be the price leader
D) signaling to the other firms to consistently maintain their prices
C) offering to be the price leader
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Which of the following programs provides economic security to the elderly, disabled, widows, and fatherless children in the U.S.?
A) Social security B) Income security C) Federal household assistance program D) Federal income administration program
Last year when John graduated and received a 20 percent pay increase, the average number of restaurant meals he consumed rose from one a week to three a week. Hence his income elasticity for restaurant meals is
A) 0.50. B) -0.50. C) 5.00. D) -5.00.
Discriminatory trade practices are allowed among sister WTO member countries, especially when it comes to
A) the use of child labor in agricultural and textile/apparel products. B) national security and special benefits given to other members of a free trade area. C) the protection of agriculture and textile/apparel from open trade. D) Both A and B are correct. E) Both B and C are correct.
The recessionary gap is the
A. amount of unemployment compensation required during a recession. B. budget deficit encountered during a recession. C. amount of government spending needed to end a recession. D. distance between the equilibrium level of output and the full employment level of output.