The demand for shoes is ___________________ than is the demand for sneakers because __________________.
A. less price elastic; the scope of the market for shoes is less broadly defined
B. more price elastic; the scope of the market for shoes is less broadly defined
C. less price elastic; the scope of the market for shoes is more broadly defined
D. more price elastic; the scope of the market for shoes is more broadly defined
C. less price elastic; the scope of the market for shoes is more broadly defined
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An agreement with another country in which it agrees to import more from the United States is called a
A) VRA. B) VIE. C) VAR. D) VAT.
A store is choosing between advertising a credit card fee or a discount for paying cash to its customers. People will care more about:
A. getting the discount rather than avoiding the fee. B. avoiding the fee rather than getting the discount. C. neither; since it's the same outcome, people won't care one way or another. D. It is impossible to say without more information.
The virtual currency battle between Facebook and Zynga reminds us that:
a. Once a company starts a virtual currency, it is difficult and costly to abolish the currency. For nations, the same is true. Countries, like Greece, that entered the European Monetary Union now find it very difficult and costly to abandon the euro. b. Companies that start virtual currencies can abolish them rather quickly, which stands in stark contrast to countries, like Greece, that entered the European Monetary Union but now find it difficult and costly to abandon the euro. c. Companies that start virtual currencies are like countries, such as Greece, that entered the European Monetary Union. In both cases, it appears relatively easy to abandon the virtual currency and currency area. d. Countries, like Greece, that entered the European Monetary Union now find it relatively easy and inexpensive to abandon the euro. This stands in stark contrast to companies that start virtual currencies and wish to abolish them.
The figure below shows free public schooling leading to less education.
A. True
B. False
C. Uncertain