What is measured on the horizontal axis of the aggregate demand/aggregate supply model?
A) real wealth B) real Gross Domestic Product (GDP)
C) prices D) nominal income
B
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If grocery stores are able to place their own private label "generic" products wherever they wish, why do some managers deliberately put them on shelves that are hard to get to or difficult to notice?
What will be an ideal response?
Explain the concept of utility
If all unwelcome or harmful activities were eliminated,
a. the benefits from eliminating these activities would exceed the cost of eliminating them b. there would be no remaining potential Pareto improvements c. society would be more efficient d. society would be less efficient e. the result would be Pareto efficient
It is generally more profitable for a firm to pay workers more than the going wage rate:
A. in areas in which turnover is not very costly. B. in sectors where skills are scarce. C. in industries in which worker motivation doesn't really matter. D. All of these are true.