The "universal service" argument often requires that some products be sold at a loss while other products be sold at profits higher than normal
a. True
b. False
Indicate whether the statement is true or false
True
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Bottles of Coca-Cola and equally-sized bottles of Pepsi Cola are perfect substitutes for a consumer, but a bottle of Coke costs 10 cents less than bottles of Pepsi. The income effect of a 15 cent increase in the price of Pepsi will be for the consumer to drink less cola.
Answer the following statement true (T) or false (F)
The basic aggregate demand and aggregate supply curve model helps explain ________ fluctuations in real GDP and the price level
A) long-term B) unrelated C) both short-term and long-term D) short-term
Net Present Value measures the
a. total value of profits over the life of an investment b. discounted value of profits over the life of an investment c. discounted value of revenues over the life of an investment d. interest rate paid on funds borrowed for an investment e. none of the above
A decrease in the expected future domestic exchange rate causes the demand for domestic assets to shift to the ________ and the domestic currency to ________, everything else held constant
A) right; appreciate B) right; depreciate C) left; appreciate D) left; depreciate