The hardware store doesn't simply sell hammers at $10 each because
What will be an ideal response?
it wants to get $14 out of customers who wouldn't buy two if they value a second hammer at less than $6.
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Refer to the scenario above. If you invest your money in the bank, you will receive ________ on maturity
A) $172,304.74 B) $898,797.66 C) $3,521,725.58 D) $4,020,025.01
Immediately after being collected, taxes are deposited in
A) tax and loan accounts. B) the Federal Reserve Bank of New York. C) Federal Reserve district banks around the country. D) the Congressional Vault.
When economists say wages are "sticky," they mean that they:
A. are slow to adjust to changes in the economy, and can cause unemployment. B. stick to current market trends, and adjust to equilibrium when changes in the economy occur. C. get stuck behind current market trends, and follow a typical two-week lag with changes in the economy. D. lead market trends, and other variables will stick to the wage rate and follow it closely.
To differentiate between nominal GDP and real GDP in the year 2000 we need to know all except
a. the quantity of goods produced in 2000 b. the price level in 2000 c. the quantity of goods and services produced in the base year d. the quantity of services produced in 2000 e. the price level in the base year