Profits account for about 30 cents out of each dollar spent on goods in the United States
a. True
b. False
Indicate whether the statement is true or false
False
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The largest proportion of M1 is made up of
A) currency. B) checking account deposits. C) traveler's checks. D) savings account deposits.
Suppose a 25% off sale on post-holiday merchandise creates a 50% increase in post-holiday sales. The price elasticity of demand is:
A) 2.0. B) .75. C) .50. D) .25. E) none of the above.
The required reserve ratio is 20 percent and banks have no excess reserves. Katie deposits $300 in her bank. What are the bank's excess reserves immediately after Katie makes her deposit?
A) $30 B) $90 C) $240 D) $60 E) $300
If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is evidence that demand is:
a. price elastic. b. price inelastic. c. unit elastic with respect to price. d. perfectly inelastic.