The Federal Open Market Committee meets
A. Every four or five weeks.
B. Every three months.
C. Every week.
D. Twice per year.
Answer: A
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The demand curve facing a single-price monopolist
a. is the same as its average revenue curve b. is the same as its marginal revenue curve c. is the same as the perfect competitor's demand curve d. lies above its average revenue curve e. lies below its marginal revenue curve
Price elasticity of supply is always
A) positive because of the law of supply.
B) negative because of the law of supply.
C) positive because of diminishing marginal utility.
D) negative because percentages can only be negative.
A transaction cost for buying a new tennis racket would include ______.
a. the other items that could have been purchased with the money b. an hour spent testing different rackets before buying it c. the price of a can of tennis balls to use with it d. the hours spent using the racket after the purchase
Which of the following pricing policies compensate customers if the firm fails to provide the best price in the market?
A. Brand loyalty B. Randomized pricing C. Beat-or-pay D. Price matching