Which of the following would not tend to lower the price of VCRs?
a. decreasing price of DVD players
b. increasing price of video cassettes
c. improvement in VCR production technology
d. reduced price of raw materials used in making VCRs
e. increasing price of pay-per-view movies on cable TV
e. increasing price of pay-per-view movies on cable TV
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What makes something money? What functions does money perform? Why do you think packs of chewing gum don't serve as money?
What will be an ideal response?
The purpose of commodity buffer stocks is
(a) to moderate price fluctuations. (b) to raise commodity prices. (c) to encourage commodity substitution. (d) to guarantee national security.
Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. On the other hand, a Canadian worker can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost of a pair of shoes is __________ for the United States than Canada, so Canada has the ______________ advantage in shoe production.
A. higher; comparative B. lower; comparative C. higher; absolute D. lower; absolute
Under the Clayton Act,
a. the same person cannot sit on the boards of directors of competing corporations. b. mergers are illegal. c. monopoly is illegal. d. the Sherman Antitrust Act was repealed.