In many high-tech industries in the economy, such as computers, medical equipment, and automobiles,
A. price competition is utilized by firms more than innovation to compete with rivals.
B. firms compete on the basis of innovation only; never engaging in price competition.
C. innovation is utilized by firms to compete with rivals more than price competition.
D. firms use price competition only; never engaging in innovation to compete with rivals.
E. firms utilize innovation and price competition equally to compete with rivals.
Answer: C
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Which of the following is true about unemployment?
a. the benchmark high-employment level is most likely between 3 and 4 percent b. In recent years, the appropriate benchmark high-employment level has risen. c. Based on the experience of the 1960s, a 7 percent unemployment rate was too low to be sustained without a buildup of inflationary pressure d. During the 1970s, the benchmark high-employment level rose but this was not observed by economists at the time.
Which of the following statements is NOT true about inflation?
A) Inflation is a sustained increase in the average prices of goods in the economy. B) During an inflationary period, the prices of some goods will increase while the price of some goods will decrease. C) When there is inflation, the purchasing power of a dollar decreases. D) During an inflationary period, the prices of all goods will increase.
When Wilma in Wisconsin buys stock in BMW in Germany, NCO:
A. decreases. B. is unaffected. C. increases. D. is zero.
The formula for the multiplier is
