Escalators present in a contract must state:
a. at what interval the contract price should automatically change at a fixed rate.
b. when the price will change and by what formula the new price will be calculated.
c. when the contract should be terminated and how the cost of termination should be shared.
d. when the contract should be renewed and the terms governing the renewal.
B
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Which of the following is a macroeconomic concern?
A) the unemployment rate in a specific industry B) the national output of the United States C) wage levels in specific industries D) the operation of an individual firm
On the eve of the Civil War, __________ power was more important than _____________ power, but by the end of the 19th century, 90 percent of manufacturing energy came from _________
a. animal; water; steam b. steam; water; electricity c. wind; water; petroleum d. water; steam; coal
Andy views beer and pizza as complements to one another. If the price of pizza decreases, economists would expect: a. Andy's demand for pizza to increase
b. Andy's demand for pizza to decrease. c. Andy's quantity of pizza demanded to decrease. d. Andy's demand for beer to increase.
A rational consumer would never purchase a good if its
a. marginal utility is falling b. MU/P is positive c. MU/P is falling d. marginal utility is negative e. contribution to total utility is less than one