What is the term that refers to increases in the value of a product to each user, including existing users, as the total number of users increases?
A. Price discrimination
B. Network effects
C. Simultaneous consumption
D. Income transfer
Answer: B
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If the required reserve ratio is 5 percent, then the simple deposit multiplier is
A) 2. B) 5. C) 10. D) 20.
The size of the underground economy is probably large when:
A. the cost of doing business legally is low. B. bribes are often necessary to cut through bureaucratic red tape. C. taxes are low. D. All of these statements are true.
An appreciation in the U.S. dollar on the foreign exchange market will
What will be an ideal response?
The nominal price of a desk increased from $20 in 2005 to $65 in 2016. The Consumer Price Index (CPI) was 125 in 2005 and 250 in 2016. We can say that
A) the real price of a desk increased over time. B) the real price of a desk fell over time. C) the real price of a desk has not changed over time. D) There is not enough information to determine the real price of a desk.