A seller who wishes to increase the revenues should always increase the price of the product.
Answer the following statement true (T) or false (F)
False
You might also like to view...
The fundamental goal of economics is to
A. provide all people with five yachts and two automobiles. B. redistribute income and eliminate poverty. C. reduce unemployment so that welfare payments are not necessary. D. learn to handle the scarcity of virtually all resources.
Ronald McDonald Houses is an example of
A) altruistic corporate social responsibility. B) reduction in shareholder value. C) vertical integration. D) strategic corporate social responsibility.
Here is an excerpt form an editorial praising capitalism in The Economist:“It is competition that delivers choice, holds prices down, encourages invention and service, and (through all these things) delivers economic growth.” To what type of competition does the writer refer? Is it the sort of competition that economists study? Explain.
What will be an ideal response?
According to John Maynard Keynes, policy makers should respond to a downturn in the business cycle by:
A. Cutting taxes and increasing government spending. B. Cutting taxes and reducing government spending. C. Raising taxes and increasing government spending D. Raising taxes and reducing government spending E. Do nothing because government activism violates Keynes' laissez faire approach.