How are index numbers expressed?
a. as dollars
b. as percentages
c. as numbers
d. as ratios
c. as numbers
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If Cruise the World advertises a 30 day low-price guarantee that will refund any of its customers the difference between the price they paid for a cruise and a lower price offered by Cruise the World for the same cruise, this is an example of ________.
A) a meet-the-competition clause B) a most-favored-customer clause C) price visibility D) a meet-or-release clause
Moral hazard is illustrated by people who take greater risks after they purchase insurance
a. True b. False Indicate whether the statement is true or false
A cap-and-trade policy
A. has a set number of permits. B. allows polluters to trade permits. C. caps the total level of pollution allowed. D. all of these answer options are correct.
The equation (MPL/PL) = (MPK/PK) represents
A. cost minimization. B. profit maximization. C. the short-run production function. D. diminishing marginal returns.