The manufacturer of South Face sells jackets to retail stores for $120 each, and it requires the retail stores to charge customers $150 per jacket. Any retailer that charges less than $150 would violate its contract with South Face. What do economists call this business practice?
a. predatory pricing
b. resale price maintenance
c. tying
d. leverage
b
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Which of the following is not correct?
a. The model of aggregate demand and aggregate supply is used by most economists to analyze short-run fluctuations. b. During a recession firms cut back production and workers are laid off. c. A recession is a period of declining real incomes and declining unemployment. d. A depression is a severe recession.
The general approaches to global poverty reduction include all of the following except
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The rate at which a consumer is ABLE to substitute one good for another is determined by
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