The relocation of service industry functions to another country is called what?
What will be an ideal response?
Offshoring
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One way to bring the inflation rate down is
a. to reduce excessive competition b. to increase government spending c. to aggregate across markets d. for the government to purposely cause a severe recession e. to reduce taxes
A curve that is derived by summing horizontally individual supply curves is called:
a. aggregate demand. b. aggregate supply. c. market demand. d. market supply.
Superstars arise in markets in which every customer in the market is able to enjoy the good supplied by the
Consider a consumer who spends all income on only two goods: pizza and soda. An extra slice of pizza would give the consumer 60 extra utils, while an extra can of soda would give the consumer 20 extra utils. Pizza costs $3 per slice, and soda costs $1 per can. In this situation, the consumer:
A. is buying too much pizza and not enough soda. B. should purchase more pizza and less soda. C. has maximized his or her total utility. D. needs to equate the marginal utilities for pizza and soda.