Given that the firm wants to sell both the versions, how high can the high-end professional knives be priced?
a. $60
b. $70
c. $80
d. $100
d
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Suppose there is a temporary increase in the price of oil. This is represented by
A) a leftward shift of the SAS and the LAS curve. B) a leftward shift of the LAS curve. C) a rightward shift of the SAS curve. D) a leftward shift of the SAS curve.
Refer to the above figures. A tariff is placed on a foreign good. Which figures represents the situation in the domestic market for a competing domestic good?
A) Panel A B) Panel B C) Panel C D) Panel D
Attempts by the government to reduce the rate of inflation often result in higher unemployment in the short run.
Answer the following statement true (T) or false (F)
To evaluate relative changes in the net public debt, we must
A. look at the annual percentage change in the public debt. B. compare it to the nation's real GDP. C. compare it to the debts of all developed countries. D. look at the absolute amount owed by the government.