The price of bananas will increase in response to:
A. an increase quantity of bananas supplied.
B. an excess demand for bananas.
C. an excess supply of bananas.
D. an increase in the supply of bananas.
Answer: B
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Some firms practice odd pricing because
A) it is a way to price discriminate. B) it is too difficult for sellers to reeducate buyers into accepting even prices. C) it lowers transactions costs. D) they believe that customers will buy a larger quantity with an odd price.
What is the primary function of a bank? Why do people prefer banks over other financial intermediaries?
Which of the following is not a leading indicator for economic activity?
A. Orders for new equipment. B. Natural disasters. C. The level of inventories. D. Building permits.
What causes the overexploitation and depletion of common pool resources?
What will be an ideal response?