To cut costs in the face of declining demand and increased competition, many fast food restaurants have focused on reducing:
A) labor costs.
B) utility costs.
C) paper napkin costs.
D) none of the above.
C
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Due to a recession, Hostess Bakeries found that the demand for its products decreased. The demand for products ________ the demand for bakers and ________ the equilibrium wage rate paid to bakers
A) increased; raised B) decreased; raised C) increased; lowered D) decreased; lowered
Perfectly competitive markets are not the best at producing the goods that are desired by consumers
a. True b. False Indicate whether the statement is true or false
Japanese Prime Minister Ryutaro Hashimoto was called the "Herbert Hoover of Japan" because he
a. looked like a very distinguished politician. b. advocated vast public works to combat unemployment. c. advocated budget deficit reduction in the midst of a recession. d. advocated easier monetary policy and lower interest rates to combat recession.
To target a rate that is higher than the current interest rate, the Fed can:
A. sell government securities to reduce reserves. B. sell government securities to increase reserves. C. purchase government securities to increase reserves. D. purchase government securities to reduce reserves.