If Happy Campers, Camping R Us, and Camp with Us are all competing in the camping market and Happy Campers consistently is the first to change prices, Best Beds might be ________.
A) signaling to the other firms to consistently raise their prices
B) signaling to the other firms to consistently maintain their prices
C) signaling to the other firms to consistently lower their prices
D) offering to be the price leader
D) offering to be the price leader
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Peg's Manicure Manor did 4,000 sets of nails in 2015 and 4,500 sets of nails in 2016. The price of a set of nails was $20 in 2015 and $22 in 2016. If 2015 is the base year, Peg's contribution to nominal GDP in 2015 was ________ and to real GDP in 2015 was ________.
A. $80,000; $80,000 B. $80,000; $88,000 C. $88,000; $90,000 D. $80,000; $99,000
The Haig-Simons definition of income includes
A. employer pension contributions and insurance purchases. B. transfer payments. C. income in-kind. D. all of these answer options are correct.
Classical economists believed that if saving were greater than investment, the interest rate would _____, causing saving to _____ and investment to _____ until the two were equal
a. rise; decrease; increase b. fall; decrease; increase c. fall; increase; decrease d. rise; increase; decrease e. fall; increase; increase
To totally internalize an externality, a government can levy a tax related only to the physical quantity of pollution if
A. the economic damages associated with the pollution are the same across different locations. B. the economic damages are too large to be determined. C. the economic damages are zero. D. the economic damages associated with the pollution are different across different locations.