A firm could not be engaged in successful predatory pricing if:
a. It charged prices greater than the average variable cost of production.
b. It drove rivals out of the market
c. It raised its prices after its price cutting campaign.
d. None of the above is true.
a
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Gold certificates, special drawing rights, the reserve position of the IMF, and the holdings of foreign currencies represent:
A) physical assets. B) reserve assets. C) monetary assets. D) none of the above.
Since the 1970s, the income tax system in the U.S. has become
a. less regressive. b. more aggressive. c. less progressive. d. regressive e. more proportional.
The exchange rate is
a. another term for "interest rate." b. another term for "growth rate." c. the rate at which goods trade for one another across international borders. d. the price of one currency in terms of another currency.
Which of the following is likely to have the most price elastic demand?
a. laptop computers b. tablets c. Microsoft® Surface tablets d. cell phones