Why do criteria need to be established for rationing goods and resources?
What will be an ideal response?
Scarcity requires choices to be made.
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One reason that supports nations having separate currency suggests that there are welfare gains from
A) currency competition. B) seignorage. C) capital mobility. D) debt reduction.
The most commonly used price index to track changes in prices for the typical household in the U.S. is:
A. consumer price index. B. average price index. C. retail price index. D. producer price index.
In average cost pricing, the natural monopoly would have to set price equal to
A. average total cost. B. marginal cost. C. average fixed cost. D. average variable cost.
A firm's advertising can help rivals
A) if it focuses on a general problem that the product addresses. B) if it focuses on a secret ingredient that only this firm possesses. C) if rivals do not advertise. D) if rivals advertise.