If a deal looks too good to be true
a. The seller most likely made a mistake
b. Be cautious. It probably is too good to be true
c. Trust the seller to give you a good deal
d. A good deal is a good deal. Go for it.
b
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As a person's wage rate increases, the substitution effect motivates an increase in work and the income effect motivates a decrease in work
Indicate whether the statement is true or false
A negative balance of trade is when ___________.
Fill in the blank(s) with the appropriate word(s).
Suppose you invest $5,000 in a one-year Japanese bond that pays 1% interest. At the time of your purchase, 85 yen equals $1 while one year later, 80 yen equals $1. What will be the value of your investment in one year when measured in dollars?
What will be an ideal response?
The demand curve faced by a monopolistically competitive firm
a. is the same as the market demand curve b. is less elastic than the one faced by firms in perfect competition c. is perfectly elastic d. is perfectly inelastic e. has a constant slope