Inflation is a serious problem because inflation causes real wages to decline
a. True
b. False
Indicate whether the statement is true or false
False
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An increase in the level of U.S. exports ________ the demand for goods and service produced in the United States
A) increases B) does not affect C) decreases D) increases or decreases
A price increase will always increase a firm’s revenue.
Answer the following statement true (T) or false (F)
Many book publishers use cost-plus pricing to establish prices for some of their books
Would you expect a publishing company to use a strict cost-plus pricing system for all its books? How might you determine if a publishing company actually does use cost-plus pricing for all its books?
There are 30 firms in an industry. What happens to that industry's four-firm concentration when the third- and fourth-largest firms merge?
A) Nothing, because their shares are already included in the concentration calculation.
B) The industry's concentration ratio will fall.
C) The industry's concentration ratio will increase.
D) It is impossible to know without more information.