A black market is a market where buying and selling take place
A) in non-licensed shops and warehouses.
B) at prices that violate government price regulations.
C) after regular office hours.
D) on foreign soil.
B
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If U.S. consumers increase their spending on hybrid cars by 60 percent, and 60 percent more hybrid cars are produced, this is known as the
A) majority rule. B) proportional rule. C) government rule. D) profit rule.
The following are possible examples of price discrimination, EXCEPT:
a. prices in export markets are lower than for identical products in the domestic market. b. senior citizens pay lower fares on public transportation than younger people at the same time. c. a product sells at a higher price at location A than at location B, because transportation costs are higher from the factory to A. d. subscription prices for a professional journal are higher when bought by a library than when bought by an individual.
If the marginal propensity to save (MPS) is 0.10, the value of the spending multiplier is:
a. 1. b. 9. c. 10. d. 90.
If an international currency speculator expects that country A will soon be forced to devalue its currency, the speculator will
A) buy as much of that currency as possible. B) sell all of his holdings of that currency. C) not be concerned because the devaluation will affect only the domestic prices of goods within country A's borders, not international prices. D) not be concerned because only a revaluation will affect his or her profits.