Refer to the scenario above. If Joseph prefers more money to less, ________
A) he will not accept any offer made by Phillip
B) he will always accept any offer made to him
C) Phillip will offer the lowest possible amount to Joseph
D) he will accept the offer only if Phillip pays him an equal share of the money
B
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How did McDonalds address the drive-through innovation in China?
What will be an ideal response?
The more flexible prices are, the
A) greater demand shifts have to be to bring about a new equilibrium. B) larger the shifts in supply will be after a change in demand. C) greater the reliance by sellers to change the nominal price. D) more quickly a shock to the economy can be absorbed.
If the government pays a per-unit subsidy to the producer of a service, we would expect to see a(n) I. increase in the quantity demanded. II. decrease in the out-of-pocket price paid by consumers. III
increase in the quantity supplied by producers. A) I only B) both I and II only C) both II and III only D) I, II, and III
Increase in money supply leads to a …………………in the interest rate for a given level of output, real money supply ………………
A. Increases, decrease B. Decrease, increase C. Increase, increase D. Decrease, decrease