Wal-Mart has a limited number of "Black Friday" (the day after Thanksgiving Day) special items on sale at prices well below their typical price. Wal-Mart opens at 10 PM on Thanksgiving. Wal-Mart is using a ________ allocation method for these it
A) first-come, first-served
B) market price
C) contest
D) majority rule
E) command
A
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Consider an economy that is greatly dependent on the U.S. economy for consumer goods and durables. Inflation will increase in the economy if:
A) the dollar appreciates vis-à-vis its own currency. B) the U.S. goes into a recession. C) the dollar depreciates vis-à-vis its own currency. D) the country adopts dollar as its official currency.
An editorial in a newspaper calling for the government to abolish the minimum wage because it takes advantage of consumers is an example of a(n)
a. positive economic statement. b. pure economic statement. c. normative economic statement. d. abstract economic statement.
From an economist's point of view, zero pollution is always preferable to some pollution.
Answer the following statement true (T) or false (F)
In the United States it is clear that if a dollar were diverted from present consumption to present investment, the return on that investment would be ________ to reward the deferral of consumption, meaning that overall economic welfare would rise
with ________ in national saving. A) insufficient, an increase B) insufficient, a decrease C) more than sufficient, an increase D) more than sufficient, a decrease