Pepsi One is a close substitute for Diet Coke. When Pepsi introduced Pepsi One, the price elasticity of demand for Diet Coke ________ and Coke's ability to raise revenues through price increases ________.
A. decreased; was reduced
B. had no effect; was reduced
C. increased; was reduced
D. increased; increased
Answer: C
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Which of the following statements correctly identifies a difference between labor and capital?
A) Capital can be rented or owned by a firm, but labor cannot be owned. B) Labor can be rented or owned by a firm, but capital cannot be owned. C) Labor is hired until a point where the marginal product of labor equals the price of labor, whereas capital is hired until a point where the average product of capital equals the price of capital. D) Labor is hired until a point where the average product of labor equals the price of labor, whereas capital is hired until a point where the marginal product of capital equals the price of capital.
A merger of firms that compete in the same market is classified as a conglomerate merger
a. True b. False Indicate whether the statement is true or false
What was the difference between service exports and service imports in 2017?
a. $797 billion
b. $542 billion
c. $255 billion
d. -$255 billion
Which of the following are monetary policy goals?
I. maintain high interest rates II. keep unemployment rates low III. reduce the size of the banking sector IV. prevent high rates of inflation A) I, II, III, and IV B) I, II, and III C) II, III, and IV D) II and IV