If the price index in 2015 is 115 and the price index in 2016 is 102, the rate of inflation between 2015 and 2016 is
A. 13.0%.
B. 12.7%.
C. -11.3%.
D. -13.0%.
Answer: C
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According to the ability-to-pay principle, it is fair for people to pay taxes based on the amount of government services that they receive
a. True b. False Indicate whether the statement is true or false
In the case of rent control, a maximum price will cause ________ and ________ the total surplus of the market.
A. excess demand; reduce B. excess demand; increase C. excess supply; reduce D. excess supply; increase
??Firm 2???High PriceLow PriceFirm 1High PriceFirm 1 earns $100; Firm 2 earns $100Firm 1 earns $25; Firm 2 earns $150?Low PriceFirm 1 earns $150; Firm 2 earns $25Firm 1 earns $50; Firm 2 earns $50Table 12.2The Nash Equilibrium in the game shown in Table 12.2 is the cell in which:
A. both firms choose a low price. B. both firms choose a high price. C. Firm 1 chooses a low price and Firm 2 chooses a high price. D. Firm 2 chooses a low price and Firm 1 chooses a high price.
In order to increase sales the firm can
a. Increase the reference price for the product b. Decrease prices c. Differentiate their product d. All of the above