A discount shoe manufacturer's advertisement suggests that they are almost as good as the name brands but better value. The shoe manufacturer believes that the advertisement will
a. Make the demand for its product more elastic
b. Make his customers more price sensitive
c. Cause people to directly compare his product to the name brands
d. All of the above
d
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What is the shape of average cost curve? Provide the reason for that particular shape.
What will be an ideal response?
Demand is said to be __________ when the quantity demanded changes at the same proportion as the price.
a. elastic b. unit elastic c. inelastic d. independent
Assume that the central bank increases the reserve requirement. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period and net nonreserve-related international borrowing/lending remain the same. b. The quantity of real loanable funds per time period rises, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). c. The quantity of real loanable funds per time period falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). d. The quantity of real loanable funds per time period falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). e. The quantity of real loanable funds per time period rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive).
In the former Soviet economy, the supreme planning board that transmitted economic decisions down to producing and consuming units was called the:
A. Soviet Ministry. B. Polit Bureau. C. Gosplan. D. Soviet Central Committee for Economic Planning.