For the most part, central bank credibility, or lack thereof, is reflected in the behavior of ________
A) short-run aggregate supply
B) short-run aggregate demand
C) long-run aggregate supply
D) aggregate price shocks
A
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The quoted in the textbook study of consumer behavior at Starbucks company stores demonstrated that including calorie count on menus had no impact on consumer behavior
Indicate whether the statement is true or false
If MiiTunes and The Rock Shop are both in the music business and faced with the choices outlined in the figure shown, we can predict the outcome will be that:
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.
A. MiiTunes charges low prices and The Rock Shop does not enter.
B. MiiTunes charges high prices and The Rock Shop enters.
C. MiiTunes charges high prices and The Rock Shop does not enter.
D. MiiTunes charges low prices and The Rock Shop enters.
If the price of a good doubles and quantity supplied triples, then
a. demand is elastic b. demand is inelastic c. supply is inelastic d. supply is elastic e. there is insufficient information to reach any conclusion about the price elasticity of supply
if import restrictions prohibit foreigners from selling various goods and services in the U.S Market
What will be an ideal response?