The biggest problem caused by a deflation is that
A) prices fall. B) wages fall.
C) interest rates rise. D) people cannot repay their debts.
D
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Explain what information is contained in the poverty rate statistic. Are there problems in using an absolute scale to measure poverty? If so, explain them
"If the cost of college tuition goes up, then fewer people will go to college." This statement:
A. is always true. B. is true only if for some students the cost of college after the tuition increase exceeds the benefits of attending college. C. would never be true. D. ignores the opportunity costs of attending college.
In the long run:
A. all costs are variable costs. B. all costs are fixed costs. C. fixed costs are greater than variable costs. D. variable costs equal fixed costs.
Collusion always involves firms engaging in a
A) vertical merger. B) horizontal merger. C) cooperative game. D) noncooperative game.