The information content of a product can never be separated from the physical aspect of the product
Indicate whether the statement is true or false
False
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In the labor market, an increase in labor productivity ________ the real wage rate and ________ the level of employment
A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases
High-income countries have ________ and ________ as compared to developing countries
A) high rates of savings; low rates of growth B) high rates of savings; high rates of growth C) low rates of savings; high rates of growth D) low rates of savings; low rates of growth
The longer you have to wait to receive a payment,
A) the lower the interest rate you will charge on the payment. B) the more you are willing to discount the payment. C) the greater value it will have to you. D) the less value it will have to you.
If demand is taken into account, firms that use cost-plus pricing can adjust price by
A) letting sales fall, but hold the markup constant if demand falls. B) lowering markups on price-elastic goods and raising markups on price-inelastic goods. C) letting sales rise, but hold the markup constant if demand rises. D) raising markups on price-elastic goods and lowering markups on price-inelastic goods.