Refer to Table 21-1. Using the table above, what is the approximate average annual growth rate from 2013 to 2016?
A) 1% B) 1.5% C) 2% D) 3%
C
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A firm has an average total cost of $50. If it sells 20 units of its product at $80 each, what is its profit?
A) $30 B) $600 C) $1,000 D) $1,600
Club Med, which operates a number of vacation resorts, offers vacation packages at a lower price in the winter (i.e., the "off season") than in the summer. This practice is an example of:
A) peak-load pricing. B) intertemporal price discrimination. C) two-part tariff. D) bundling. E) Both A and B are correct.
Because central banks intervene in currency markets, the term ____ has been used to describe the system
a. organized b. planned c. dirty float d. flexible
Suppose that the current overall unemployment rate is 7.5%. If structural unemployment is 1.5%, frictional unemployment is 3%, and cyclical unemployment is 2%, what is the unemployment rate that is due to seasonal factors?
a. 14.0% b. 5.5% c. 4.5% d. 6.0% e. 1.0%