An e-book that sells new for $100 will typically be sold back to the bookstore "used" for
A. $100.
B. $75.
C. nothing (it can't be re-sold).
D. $50.
Answer: C
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Examining the conditions that could lead to unemployment in an economy is an example of a microeconomic topic
Indicate whether the statement is true or false
Menu costs refers to
a. resources used by people to maintain lower money holdings when inflation is high. b. resources used to price shop during times of high inflation. c. the distortion in incentives created by inflation when taxes do not adjust for inflation. d. the cost of more frequent price changes induced by higher inflation.
On average, over the last 50 years or so world trade has
a) increased faster than world output b) been primarily concentrated in agriculture c) been dominated by Middle East oil exports d) declined as nations closed their borders to imports e) been conducted almost exclusively over the internet
We use the midpoint formula in computing the price elasticity of demand coefficient in order to:
A. Make the coefficient value become independent of whether price goes up or down B. Convert absolute changes into percent-changes C. Eliminate the negative sign of the coefficient D. Make the coefficient become equal to the slope of the demand curve