Since 1959 the fraction of persons below the poverty line has fallen
a. True
b. False
Indicate whether the statement is true or false
True
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The graph illustrates the demand curve for soda. After a rise in the price of a soda from $1.00 a can to $2.00 a can, the quantity of soda demanded
A) decreases from 2 cans to 0 cans a day. B) increases from 0 cans to 2 cans a day. C) remains unchanged. D) decreases from 1 can to 0 cans a day. E) cannot be determined from the figure because the demand curve will shift to a new curve.
A monopoly firm's demand curve
A) is more inelastic than the demand curve for the product. B) is inelastic at high prices and elastic at lower prices. C) is perfectly inelastic. D) is the same as the market demand curve.
Your U.S.-based company is selling parts to a company in Chile and the company will pay you US$10,000 in 3 months. The current exchange rate is 490 pesos/US$. If the exchange rate at the time of payment is 510 pesos/US$
A) you earn additional profit. B) the Chilean company will end up paying more for the goods. C) the Chilean company will end up paying less for the goods. D) you earn less profit.
Which of the following is FALSE?
a. The Robinson-Patman act is a part of the antitrust laws b. Under the Robinson-Patman act it is illegal to give a price discount on goods sold to another business c. Under the Robinson-Patman act, it is illegal to give a price discount on goods sold to final customers d. Under the Robinson-Patman act, the only discount allowed is the one based on difference in servicing costs of different groups