A simple model of information acquisition for shopping predicts that, the larger the percentage of dealers in an area seen by the typical shopper, the _____ will be the dispersion of the prices _____ relative to their average
a. larger; the buyers pay
b. larger; the dealers quote
c. smaller; the buyers pay
d. smaller; the dealers quote
D
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Which of the following is a topic studied in macroeconomics?
A. Unemployment rates over time B. Taxation strategies of major corporations C. Gasoline price changes D. Consumer participation in Facebook
Which of the following exchange rate systems is in the right order, from MOST control to LEAST control?
a. floating, fixed, managed float b. fixed, floating, managed float c. managed float, floating, fixed d. fixed, managed float, floating
The law of one price states that if transportation costs are relatively small, then the:
A. price of an internationally traded commodity must be the same in all locations. B. nominal exchange rates for every country's currency must be equal. C. nominal exchange rate for a currency must equal the real exchange rate for that currency. D. producer with the lowest opportunity cost should be the only producer any commodity.
Other things being equal, the effect of a decrease in the price of DVDs on the market for DVD players is a(n):
A. leftward shift in the demand curve for DVD players. B. upward movement along the demand curve for DVD players. C. rightward shift in the demand curve for DVD players. D. downward movement along the demand curve for DVD players.