The decision about whether to change prices frequently or infrequently is an application of the:
A. cost-benefit principle.
B. scarcity principle.
C. principle of increasing opportunity cost.
D. principle of comparative advantage.
Answer: A
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Describe the trends in U.S. manufacturing employment and U.S. manufacturing output over the last 40 years. What factors have contributed to these?
What will be an ideal response?
Along any IS curve
a. both government spending and expectations are fixed. b. government spending and the price level may vary. c. consumption and the price level are fixed. d. both government spending and tax rates may vary. e. all of the above
Which of the following would best describe the demand curve faced by a monopoly firm?
A) horizontal line at the market price B) vertical line at the output level C) same as the market demand curve D) same as the perfect competitor's demand curve
According to Table 6.1, there are less than one million heads of households who worked full-time year round and were poor
Indicate whether the statement is true or false