What kind of relationship appears to actually exist, if one examines the actual data regarding the inflation rate and the unemployment rate for all years since 1953?
A. an inverse relationship
B. a one-to-one relationship
C. a direct relationship
D. no relationship in the long run
Answer: D
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Holding everything else constant, a decrease in the price of GPS systems will result in
A) a decrease in the supply of GPS systems. B) an increase in the quantity of GPS systems demanded. C) an increase in the demand for GPS systems. D) an decrease in the quantity of GPS systems demanded.
A major corporation hires high school students on a part-time basis. It offers a reward of $5,000 to any of its high school seniors who graduate college in four years
What is the present value of that reward to a student who just finished her junior year of high school, assuming a nominal rate of interest of 8%?
When economy-wide business fluctuations are negative, they are referred to as
A) contractions/recessions. B) booms. C) expansions. D) peaks.
If a firm charges each consumer the absolute maximum price that he or she is willing to pay, the firm is practicing
a. perfect price discrimination. b. marginal revenue pricing. c. price discrimination. d. monopoly pricing.