Which of the following is not a cost posed by inflation?
A) Firms must pay for changing prices on products and printing new catalogs.
B) The money that consumers and firms hold loses its purchasing power.
C) Banks can lose if they under predict inflation and charge an interest rate that does not completely compensate for inflation.
D) Inflation reduces the affordability of goods and services to the average consumer.
D
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A good is said to have an elastic supply if its price elasticity of supply is:
A) equal to zero. B) between zero and one. C) equal to one. D) greater than one.
It is interesting to note that several countries around the world actually make voting compulsory.According to the CIA's World Factbook, as of August 2013, voting is mandatory in 22 countries
Although this law is not enforced in many of these countries, in several nations citizens who do not comply are subject to fines. Give arguments for and against making voting compulsory.
Supply chain management is a recent development in organizational structure
Indicate whether the statement is true or false
Which of the following is an example of scarcity?
A. Adam has more than enough food to eat each day. B. Benito is wealthy so he has everything he could ever want. C. Camden would like to have more designer clothes than he can afford. D. Dennis takes as many vacations as he would like since he won the lottery.