Strategic decision making is most important in:
A. oligopolistic markets.
B. monopolistically competitive markets.
C. competitive markets.
D. monopolistic markets.
Answer: A
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You have found data that indicates that the income elasticity of demand for generic (unbranded) shampoo is -0.7. You should conclude that generic shampoo:
A. has inelastic demand. B. is below its equilibrium price. C. is an inferior good. D. is a normal good.
If the nominal rate of interest on a bond was 7 percent, the inflation rate was 6 percent and an individual was in a 50-percent tax bracket, the after-tax real return on the bond would be equal to
a. 0 percent. b. .5 percent. c. 6 percent. d. 7 percent. e. none of the above.
Suppose there are a large number of men who used to work or seek work who now no longer do either. Other things the same, this makes
a. the number of people unemployed rise but does not change the labor force. b. the number of people unemployed rise but makes the labor force fall. c. both the number of people unemployed and the labor force fall. d. the number of people unemployed fall but does not change the labor force.
Refer to the information provided in Figure 27.1 below to answer the question(s) that follow.
Figure 27.1Refer to Figure 27.1. Suppose the economy is at Point A. A(n) ________ can cause a movement to Point D.
A. decrease in aggregate demand B. increase in the price level C. increase in aggregate demand D. decrease in the price level