Who, among the following, is least likely to practice cost-plus-markup pricing?
A) Dolly J. Dalrymple, a Wisconsin dairy farmer
B) The Wisconsin Cheeses-R-Us factory
C) The Cheese-of-the-Month Club
D) Trick question: all are equally likely to use cost-plus-markup pricing.
A
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Economic growth as it is currently measured
A. does not account for how increased per capita income is distributed across income groups. B. understates actual economic growth since it does not adjust for changes in leisure. C. does not consider? spiritual, cultural or social difficulties that may arise from growth. D. All of the above.
Suppose you observe a decrease in the equilibrium price and quantity of corn. Of the options listed below, this is best explained by:
A. an increase in the cost of growing corn. B. a rise in consumer income assuming corn is a normal good. C. a fall in consumer income assuming corn is a normal good. D. a decrease in the cost of growing corn.
Which of the following is true?
A) A common market is more deeply integrated than a customs union. B) The European Union is a shallower and broader form of integration than NAFTA. C) NAFTA is an example of a customs union. D) Customs unions require the creation of a common currency.
Refer to the figure at right. Medicare subsidies have increased the price of medical services to Upper P Subscript s. Which of the following statements is true about the effect the Medicare subsidy has had on the consumption of medical services?
A. The amount of medical services provided has remained unchanged as a result of the subsidy. B. The amount of medical services provided has increased from Upper Q 0 to Upper Q Subscript Upper M as a result of the subsidy. C. The amount of medical services provided has increased from Upper Q Subscript d to Upper Q Subscript Upper M as a result of the subsidy. D. The amount of medical services provided has decreased from Upper Q 0 to Upper Q Subscript d as a result of the subsidy.