If the price of monthly satellite TV service increases from $50 to $60, the percentage change (using the average value (or the midpoint) is:
A. 18.2%.
B. 16.7%.
C. 10%.
D. 60%.
Answer: A
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A) the study of the activity of a human brain when the person makes economic decision. B) the study of how people behave when they face scarcity. C) the study of situations in which people act economically irrationally. D) the study of how people make decisions at the margin.
When the Fed increases the money supply
A) the interest rate rises and this stimulates consumption spending. B) the interest rate falls and this stimulates investment spending. C) the interest rate rises and this stimulates investment spending. D) people spend less because they have more money.
What is the difference between Chinese and Indian trade in services?
What will be an ideal response?
All firms in a perfect competition industry
A. produce identical products. B. lose money. C. produce differentiated products. D. are price makers.