As products become less differentiated:
A. consumers are less willing to switch in response to price changes and competition becomes more intense.
B. consumers are more willing to switch in response to price changes and competition becomes more intense.
C. consumers are less willing to switch in response to price changes and competition becomes less intense.
D. consumers are more willing to switch in response to price changes and competition becomes less intense.
B. consumers are more willing to switch in response to price changes and competition becomes more intense.
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In the above figure, the imposition of a $0.25 sales tax on sellers will
A) raise the market price paid by buyers of hotdogs by $0.25. B) lower the market price paid by buyers of hotdogs by $0.25. C) raise the market price paid by buyers of hotdogs by $0.125. D) have no effect on the market price of hot dogs.
If a country's net exports fall, then its net capital outflow falls by the same amount
a. True b. False Indicate whether the statement is true or false
Monopoly pricing prevents some mutually beneficial trades from taking place. These unrealized, mutually beneficial trades are
a. of little concern to society. b. a deadweight loss to society. c. a sunk cost to society. d. also observed in competitive markets.
The 2008 and 2009 tax cuts and the increase in government spending that occurred at the same time did not have the same inflationary impact as the similar policy in the 1960s because:
A. monetary policymakers, having perceived the inflation risk, responded appropriately. B. the fiscal stimulus came at a time when the economy was weakening due to other factors. C. aggregate demand was far below potential output. D. all of the answers provided are correct.