Grocery stores often replace
A) low profit margin goods with services.
B) low profit margin goods with high profit margin goods.
C) high profit margin goods with low profit margin goods.
D) goods with one type of elasticity with goods of similar elasticities.
B
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How has the distribution of money income changed over time?
What will be an ideal response?
The United States and Canada trade hockey skates and apple pie. If the United States has an absolute and a comparative advantage in the production of apple pie, then:
A. Canada must have the comparative advantage in the production of skates. B. Canada must have the absolute advantage in the production of skates. C. Canada must have the absolute and comparative advantage in the production of skates. D. the United States must also have the comparative advantage in the production of skates.
Which of the following factors would not be considered by a fundamental analyst when predicting stock prices?
a. the future demand for a firm's products b. the patents held by a firm c. the likelihood of new firms competing with an existing firm d. potential changes in a firm's costs of production e. recent jumps in a firm's stock price
Assuming the aggregate supply curve is vertical, which of the following is most likely to occur if the Fed pursues expansionary monetary policy?
A. The equilibrium output will increase but the price level will stay the same. B. The equilibrium price level will increase but output will stay the same. C. The equilibrium price level and output will both decrease. D. The equilibrium price level and output will both increase.