Consider the following:
The relative price of movies this year has
A. increased.
B. decreased.
C. stayed the same.
D. Not enough information has been given to calculate an answer.
Answer: B
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The Fed's interest rate response to the rising output ratio experienced from 1997 to 1999 is explained by
A) beneficial supply shocks which pushed down the inflation rate. B) the Fed's efforts to help end the Asian financial crisis C) the Fed's uncertainty about the concepts of the natural level of output and natural rate of unemployment. D) All of the above.
Refer to the table below. If these are the only four price options for a pound of sugar, what is the value of A?
The above table provides the possible prices for a pound of sugar next year along with the associated probabilities (in percent).
A) 0.45
B) 1.00
C) 0.10
D) 0.25
An opportunity cost is:
a. the value obtained when making a choice. b. the price paid for the choice that is made. c. what must be given up to obtain something that is desired. d. what must be given up to obtain something that is not desired.
Explain what is meant by predatory pricing, and the inherent difficulties involved with predatory pricing from a firm's point of view.
What will be an ideal response?