The method of allocation that most stores use during Thanksgiving sales is:
a. a combination of market price and lottery
b. first-come, first-served
c. a combination of contest and command
d. a combination of market price and first-come, first-served
d. a combination of market price and first-come, first-served
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If the Consumer Price Index last year was 110 and 115 this year, the inflation rate is approximately
A) 4.5 percent. B) 5.0 percent. C) 10.0 percent. D) 15.0 percent.
If an economy is producing a combination of goods inside its production possibilities curve, it may mean that the nation
a. is overproducing. b. is maximizing its production. c. is under utilizing its resources. d. has no room to grow.
Lower nominal interest rates ________ the amount of money demanded and a lower price level ________ the amount of money demanded.
A. increase; does not change B. decrease; decreases C. increase; increases D. increase; decreases
A tariff on French perfume will ____ the price of perfume in the U.S. and ____ the quantity purchased.
Fill in the blank(s) with the appropriate word(s).