If all of your friends use the same instant messaging service provider, you are likely to use it too. This behavior may create
A. A network economy.
B. Distribution control.
C. Cartels.
D. Nonprice competition.
Answer: A
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Fran runs a doughnut shop in a tiny 3-person town. The table below shows the quantity demand by the three townspeople at various prices.Price PerDoughnutQuantity Demandedby AlQuantity Demandedby BettyQuantity Demandedby Carol10 cents104625 cents92535 cents71550 cents504When the price of a doughnut is 25 cents, what is the market demand for doughnuts?
A. 13 doughnuts B. 16 doughnuts C. 20 doughnuts D. 9 doughnuts
If firms receive an economic forecast predicting future decreases in the growth of real GDP, they are likely to respond by
A) increasing their level of investment spending to increase future production capacity. B) increasing their level of investment spending to increase current production capacity. C) decreasing their level of investment spending to decrease current production capacity. D) decreasing their level of investment spending to decrease future production capacity.
If the short-run Phillips curve has a very steep slope, the
a. structural deficit will grow during inflation. b. structural deficit will fall during recession. c. inflation costs of reducing unemployment are relatively low. d. inflation costs of reducing unemployment are relatively high.
Which of the following does not explain the "beauty premium" differences in wages?
a. Better-looking people are preferred by customers; thus, employers will pay them higher wages than average-looking people. b. Beauty may be an indirect measure of other abilities that employers value. c. Average-looking people are preferred by customers; thus, employers will pay them higher wages than better-looking people. d. Employers discriminate in favor of better-looking people.