The higher the price of medical care in general, the lower the ____________________________ medical care and the ______________________ specific items that make up medical care (such as, x-rays)
A) quantity demanded of; higher the demand for
B) demand for; higher the demand for
C) quantity demanded of; lower the demand for
D) demand for; higher the quantity demanded of
C
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In 2012 a country had a real GDP $15.4 trillion and GDP deflator of 125 . If that country's GDP deflator equals 115 in 2013, what is the rate of inflation in 2013?
The P/E ratio, or price to earnings ratio of a stock, can be computed using which of the following formulas?
A. (Price of stock share) ÷ (Earnings per share). B. (Earnings per share) ÷ (Price of stock share). C. (Price of stock share) ÷ (Revenue per share). D. (Revenue per share) ÷ (Price of stock share).
Refer to the accompanying figure. Suppose this demand curve shows the demand for lattes at a single coffee shop that charges $2.00 for a latte. If the manager wants to increase total revenue, what should the manager do?
A. Increase the price from $2.00 to $2.50. B. Reduce the price from $2.00 to $1.75. C. Reduce the price from $2.00 to $1.00. D. Increase the price from $2.00 to $3.00.
How does a firm measure its profit?
What will be an ideal response?