Implicit cooperation among firms to maintain prices is illegal under antitrust laws.
Answer the following statement true (T) or false (F)
False
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Asset prices in an economy are likely to fall if ________
A) firms' revenues rise B) labor supply falls C) labor demand increases D) investment falls
The price elasticity of demand for gasoline measures the:
a. responsiveness of gasoline producers to changes in the quality of gasoline. b. responsiveness of customers to changes in the price of gasoline. c. responsiveness of consumer preferences to changes in the quality of gasoline. d. both a and c above.
Suppose we shopped for a basket of goods in 2000 and it cost $350 . Suppose the same basket of goods adds up to $385 in 2001 . If we use 2000 as a base year, what would be the 2001 CPI?
a. 35 b. 90 c. 100 d. 110 e. 135
Suppose the Swiss franc rises against the British pound but falls against the Japanese yen. What happens to the prices of goods imported into Switzerland?
A. British goods rise in price while Japanese goods fall in price. B. British goods fall in price while Japanese goods rise in price. C. Both British and Japanese goods rise in price. D. Both British and Japanese goods fall in price.