The strength of the competition faced by a company can profoundly affect its
A. pricing.
B. output decisions.
C. input decisions.
D. All of the responses are correct.
Answer: D
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The diagram above illustrates the market for apartments in Victoria, British Columbia
a) If the current rent is $300 per month, is there a shortage or surplus in the apartment market and how much is the shortage or surplus? b) What is the equilibrium rent and quantity of apartments?
Between September 2007 and March 2008 there was a substantial reduction in the demand for housing. What action did the Fed take in response to the reduction in the demand for housing?
A) The Federal Reserve cut the federal funds rate seven times. B) The Federal Reserve decreased the required reserve rate. C) The Federal Reserve raised the discount rate by 3 percentage points. D) The Fed conducted open market sales of Treasury securities.
Which of the following would cause a rightward shift in the demand curve for gasoline?
I. A large increase in the price of public transportation. II. A large decrease in the price of automobiles. III. A large reduction in the costs of producing gasoline. A) I only B) II only C) I and II only D) II and III only E) I, II, and III
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.